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UK demand for new vans up by huge 21% last year

February 9, 2024

UK demand for new light commercial vehicles (LCVs) surged by 21.0% in 2023, reaching 341,455 units, as per the latest data from the Society of Motor Manufacturers and Traders (SMMT). Each month, more businesses invested in fleet renewal compared to the previous year, resulting in a record influx of zero-emission vans onto Britain’s roads.

In 2023, an additional 59,316 LCVs of various types and sizes were registered compared to 2022, following a £2 billion increase in spending by companies fulfilling essential roles in the economy, spanning from local trades to online delivery services. December notably experienced a 36.1% surge in demand, marking the strongest month since 2015. As a result of increased vehicle investment throughout the year, 2023 witnessed the highest demand for new vans since the sector’s post-pandemic recovery in 2021, with the market just -6.6% below 2019 levels.

Demand for the largest vans (weighing more than 2.5 tonnes to 3.5 tonnes) continued to rise by 9.4%, representing 66.9% of all new van registrations, driven by operators opting for payload efficiencies. Medium-sized vans (above two tonnes to 2.5 tonnes) saw the largest growth, surging by 78.4% to 57,992 units, catering to urban operators' requirements for heavy load carrying capacity and smaller vehicle sizes.

New battery electric vans (BEVs) witnessed a positive trend, reaching record volumes with a 21.0% increase to 20,253 units, constituting 5.9% of the market. December saw a remarkable 73.8% surge in BEV uptake, with the greenest vehicles representing 10.0% of registrations, marking the second-highest monthly BEV share.

The Ford Transit Custom was the best-selling model of the year, followed by its larger sibling the Ford Transit dimensions. Third place in the rankings went to the Vauxhall Vivaro dimensions and the first and only pick-up truck in the top ten was the Ford Ranger.

Despite these advancements, the Zero Emission Vehicle Mandate, mandating 10% of every van manufacturer’s sales to be BEVs this year, poses challenges. Flatlined BEV market share in 2023 compared to 2022 highlights the need to align LCV demand with supply, necessitating immediate action to address barriers to BEV uptake, particularly the shortage of van-suitable public chargers. A sustained commitment to the Plug-in Van Grant is essential for facilitating a seamless transition across all sectors and regions of the country.

Written by: thevanreviewer 

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