Light commercial vehicle registrations grew 1.7% in the best August since 2021.
According to figures published by the Society of Motor Manufacturers and Traders (SMMT), August saw a return to growth in the light commercial vehicle market. Total LCV registrations grew by 1.7%, reversing a two-month decline this summer.
Historically, August is a low-volume month, as many consumers wait for the new reg-plate in September, but this year saw a solid improvement. 16,575 vans, 4x4s, and pickups were registered this August.
Small vans, under 2.0 tonnes, increased by 24.5% year-on-year, from 343 units in August 2023 to 427 units in August 2024. Medium and large vans only slightly increased, with registrations up 1.9% and 1.8% respectively.
Unfortunately, the story around battery electric van (BEV) registrations is not as positive. BEV registrations fell for a third successive month this year with only 908 units registered compared to 1303 in August 2023. This is a change of -21.5% and has contributed to the market share for BEVs falling form 6.8% to 5.3%.
This is only half of the targeted market share set by the zero emission vehicle mandate, set at 10%, and shows that confidence in BEVs is low. It puts more pressure on the government to improve electric charging infrastructure, and BEVs must be made more attractive to consumers if the targets are to be met.
Mike Hawes, SMMT Chief Executive, said, “A return to growth for Britain’s new van sector is encouraging as the market continues its post-Covid recovery. Manufacturers continue to produce a range of new models, with many of these zero emission. However, such a significant and sustained drop in demand for electric vans is of deep concern given the ambitious and mandated sales targets required this year and beyond. There is a pressing need to stimulate operator confidence which means providing long term certainty over the Plug-in Van Grant, maintaining fiscal incentives, and accelerating the rollout of van-suitable charging infrastructure. Without these measures, the ability of the UK to meet its net zero goals while driving economic growth will be put under pressure.”
