Light Commercial Vehicle (LCV) registrations increased by 10.5% year-on-year, in the second-best November on record, according to figures published by the Society of Motor Manufacturers and Traders (SMMT).
All van classes increased to reach the 30,300 figure, with the exception of pickups.
The drop in pickup registrations, down 20.4% to 3,012 units, could be due to the upcoming change to how pickups are taxed for business. After April 2025, double-cab pickups will be taxed as cars for benefit in kind and capital allowance purposes, and it seems this is causing some reluctance in the market.
With many businesses relying on double-cab pickups for their work, especially in the farming and construction industries, this move by the government has been met with strong objections. The industry has strongly urged the government to reconsider this move, though as yet there has been no change in their stance.
Small van volumes more than doubled to 999 units, an increase of 128.6%, while medium van registrations grew by 9.8% to 4.999 units. Large vans remained the majority of registrations, with 20,504 new vehicles registered, an increase of 13.5% over the previous period.
Electric van registrations also increased, marking the second month of growth after four months of decline. BEV registrations increased by 36.7% to 2,322 units, growing the BEV monthly market share from 6.1% to 7.7%. This growth was not quite enough to reverse the falling yearly market share, which now sits at 5.3% from 5.5% the previous year.
Outlook for battery electric vans is positive, as most manufacturers now have a competitive electric variant of their van models on the market. However, without a clear plan for van-specific chargepoints country-wide, there is still a lot of hesitation from companies and traders with regards to converting their vehicles to electric.
Mike Hawes, SMMT Chief Executive, said, “The UK light commercial vehicle market continues to build back after a challenging start to the year, delivering the best performance since 2021 and the unleashing of pent-up demand. Britain’s appetite for zero emission vans continues to lag behind government ambition, however, and market share this year is heading in the wrong direction. With warnings over UK competitiveness now translating into tangible impacts, a fast-tracked review of market regulation is essential to ensure manufacturers can deliver the choice, growth and decarbonisation the nation needs.”
