The group, which saw market share fall by 26.7% on commercial vans and 3.3% on light vans, credited the dip to a lack of fleet sales.
Speaking at the company's annual State of the Nation briefing, Chris Thorneycroft-Smith, director of Iveco's light CV business unit, said: 'Retail deals are more realistic than fleet deals and even when we have been in line for fleet business over the past 12 months, we've only gone with it when the revenues have been right. We've shied away from many fleet deals that were about last year and much of our performance is the direct result of that decision.'
Thorneycroft-Smith said Iveco's main priority was to focus on customer service and servicing for fleets in the coming year.
He said the manufacturer was also introducing a range of financial packages targeting fleets, developing relationships with local dealers and addressing the contract hire market in a bid to become more appealing to fleets.