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Britain’s light commercial market is continuing to grow following a tough 2022. According to latest figures by the Society of Motor Manufacturers and Traders (SMMT), the number of new vehicles registered grew for the seventh consecutive month in July 2023. New LCV registrations totalled 26,990, which represents a 44.2% year-on-year change, and the best July since 2020. They speculate that this is due to the easing of the issues that have plagued industrial supply chains since 2019 and the pandemic. Semiconductor shortages in particular have subsided, but builders continue to be affected by energy and operational costs.
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The largest category of light commercial vehicle registrations was vans from 2.5 to 3.5t, with 19,111 such vehicles registered in July 2023 compared to 18,722 in July 2022. This was a 29.3% growth, and represented a massive 70.8% of the total vehicles registered in the category. However, it was vans from 2.0 to 2.5t that had the largest percentage changed year on year. That category had an impressive month, going from 1,346 registrations in 2022 to 4,407 registrations in 2023. This is a 227.4% increase month-on-month! Growth in this sector was more modest for the year as a whole, showing a more modest 65.1% growth.
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Vans > 2.0 to 2.5t 227.4% growthYear on year change |
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Small vans under 2t fell again this month, continuing the monthly trend. They are down 40.9%, with a year-on-year change of -34.7%. All other categories continue to see growth monthly and year-on-year. Overall, 26,990 light commercial vehicles were registered in July 2023, up 44.2% from the 18,722 registered in July 2022. For the year as a whole, 196,916 vehicles were registered in 2023 compared to 163,106 registered in 2022; a 20.7% growth YTD.
Zero emissions vehicles are still gaining in popularity and had a very successful July, with battery electric vans (BEVs) soaring by 94.6% to a total of 1,489 units. Their market share has increased from 4.1% (June 2022) to 5.5% (June 2023). For the year as a whole, 10,292 BEVs have been registered in 2023 which is an increase of 16.1% year on year, and their market share is at 5.4%.
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Battery electric vans (BEVs) rose by 94.6% to a total of 1,489 units |
| “Following a solid first half, van sales have enjoyed an extremely positive month, beating even pre-pandemic levels. The challenge now is to deliver even greater EV uptake, which requires urgent action to reduce soaring energy costs and increase the provision of dedicated van charging infrastructure to bolster operator confidence and meet the unique needs of this sector. These are vital hurdles to overcome, more so given next year will see a ZEV mandate with minimum sales targets for every brand.” – Mike Hawes, SMMT Chief Executive |
