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8 Months of Growth in UK Van Market

SMMT LCV August 23

The UK new light commercial vehicle (LCV) market grew for the eighth consecutive month in August, rising 5.0% to 16,303 units, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT)

UK Van Market Continues to Grow

The market for medium-sized vans, those weighing greater than 2.0 to 2.5 tonnes, drove growth in the month, surging 72.1% to 2,718 units with 4x4s and pickups also proving popular, demand rising 163.9% and 22.3% respectively to a combined 1,693 units.

Registrations of the largest LCVs, those weighing greater than 2.5 to 3.5 tonnes, meanwhile, decreased, falling -5.1% to 11,549 units, although they still represented the majority (70.8%) of all new van deliveries. Registrations of vans weighing up to and including 2.0 tonnes also fell, down -30.4% to 343 units.

Battery electric van registrations grew 18.9% to 1,122 units to take a 6.9% market share in August. 11,414 zero-emission electric vans have been registered so far this year, up 16.4% on the same period in 2022 as more businesses switch on to the benefits they offer in terms of competitive running costs and zero emissions at the tailpipe.

Mike Hawes, SMMT Chief Executive, said; “Another month of growth for new van sales is good news and a sign that the market is well on the way to recovery. That more operators are choosing electric models is also positive, given the massive investments made by van makers into these vehicles, including at plants in the UK. Diesel models, however, still make up more than nine in ten registrations, proof of how far the market must move if it is to decarbonise. With an end of sale dates and a ZEV mandate looming, we must pull every lever to deliver the transition.”

The National Franchised Dealers Association (NFDA) concurred with the SMMT on the growth and emphasised the need to focus on developing the EV market. Sue Robinson, Chief Executive of the NFDA said; “While it is encouraging to see growth in BEV light commercials for August, it is still disappointing to see the overall market share of 5.4% year-to-date remains 0.1% lower than this point last year. It is time the Government realised that it is a significant cost to purchase any new light commercial, particularly an EV van when there are proven and reliable diesel options available at far lower prices. Running an LCV is a business decision, and one which will need financial incentives from the Government to initiate a more radical shift in consumer uptake towards electric light commercial.”

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