Van market grows for third month in 2023

According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), the UK new light commercial vehicle (LCV) market grew by 17.3% to 47,634 units in March 2023, marking the third consecutive month of growth.

The growth was boosted by a weak March last year due to chronic supply chain shortages that drove the market down by -27.6%.

Demand was up across all segments, except for vans weighing up to and including 2.0 tonnes, which were down -24.6%. Vans weighing greater than 2.0 to 2.5 tonnes rose by two thirds to 66.3%, while registrations of vans weighing greater than 2.5 to 3.5 tonnes increased marginally by 4.9%. Smaller volume pickup and 4x4 utility segments experienced double-digit growth, rising by 29.3% and 183.4% respectively.

In the first quarter of 2023, 87,272 light commercial vehicles have been registered, up 17.4% against Q1 last year, but still -15.1% off pre-pandemic 2019. Deliveries of battery electric vans grew by 32.7%, but infrastructure remains a barrier to uptake.

The Zero Emission Vehicle Mandate, due to come into force in less than nine months, will compel a rapid increase in the sale of electric vans and infrastructure providers must invest in infrastructure that gives more operators the confidence to transition.