August saw new light commercial vehicle (LCV) registrations increase 5.0% to 16,303 units, marking the eighth consecutive month of growth, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). This result is highly encouraging in what is traditionally a slower month ahead of the new registration plate in September.
The majority of the growth was found in medium vans, between 2t and 2.5t, which grew from 1,579 to 2,718 year-on-year, an increase of 72.1%. Year-to-date, the same category increased from 22,729 in 2022 to 37,647 in 2023, an increase of 65.6%
Small vans dropped slightly, from 493 down to 343 year-on-year, emphasising the year-to-date change of -34.3% (3,641 in 2023 down from 5,542 in 2022 to date). Large van registrations (2.5t to 3.5t) are down 5.0%, though this is from 12,176 in August 2022 to 11,549 this August. Large LCVs continue to make up the greater part of the monthly registrations, despite the slight dip, and remain 10.7% up when looking at the year-to-date figures (144,992 in 2023 compared to 130,934 in 2022).
Battery electric vehicle (BEV) registrations continue to grow slowly, with 1,122 registered in August 2023. This is an 18.9% improvement over the previous August at 944 registrations. Market share for the month is up to 6.9%, but year-to-date this figure remains at 5.4%. These numbers are encouraging for a net zero future, but uptake remains slow.
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.”
