đź•’ Article read time: 2 minutes
Best February for van market in 25 years
The light commercial vehicle (LCV) market grew by 8.5% to 17,540 units in February – its best February performance for a quarter of a century, according to the Society of Motor Manufacturers and Traders (SMMT).
While February is traditionally a volatile month, the increase marks the best February performance since 1998, the year before the bi-annual plate change was introduced.
Registrations of vans weighing between 2.5 to 3.5 tonnes rose by 14% to reach 12,125 units, accounting for more than two thirds of the total market (69.1%). Smaller vans weighing up to two tonnes increased by a more modest 5.2%, while medium-sized vans weighing two to 2.5 tonnes fell by 16.5%.
Despite the government’s drive to decarbonise the UK’s van parc, deliveries of battery electric vans declined to 966 units, a fall of 44.5% against a particularly strong February in 2022. As more models hit the market in the coming months, growth is expected to resume, with the latest market outlook predicting EV van registrations rise by almost two thirds (64.5%).
Looking at the year-to-date figures, overall LCV registrations are up by 17.5% on the same period in 2022 and by 5.3% on the first two months of 2020 (pre pandemic).
“Following a torrid 2022, the UK van market is returning to sustained growth that is exceeding even pre-pandemic levels,” said Mike Hawes, SMMT Chief Executive, “Given the importance of vans to keeping the British economy and society on the move, this growth is good news. With the ZEV market still at a very early stage, however, a concerted effort by all stakeholders to accelerate van-suitable chargepoint installation must become an urgent priority, enabling long-term net zero fleet investment at the scale necessary.”
Denise Beedell, Senior Policy Manager, Logistics UK, said: “Vans are now integral to many UK business sectors and their numbers can be seen as a barometer of the health of the wider economy. Logistics UK is therefore delighted to see SMMT report such strong numbers for van registrations in February. However, the significant fall in deliveries of electric vans, at a time when operators should be planning to transition their van fleets to zero emissions, remains a cause for concern.”
*www.logistics.org.uk/van
Published On: 09/03/2023 16:00:59
Comments Section
If you are a Logistics UK member login to add comments.
