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UK van market records worst August for five years
The UK light commercial vehicle (LCV) market fell by almost a quarter (24.6%) to 15,520 units during the month of August, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
Although traditionally one of the quietest months ahead of the September plate change, the market’s performance this August means that LCV registrations have declined every month of 2022, with August registration volumes the lowest recorded for the month since 2017.
Caution is required when comparing with last summer, however, as August 2021 was the second best performance on record since the introduction of the two-plate system. For 2022, however, global supply chain challenges have acted as a handbrake on registrations, albeit the impact has been unevenly distributed across vehicle segments. The growing economic headwinds are also a concern.
Denise Beedell, Public Policy Manager, Logistics UK, said: “While this registration data appears to be disappointing at first glance, there are some positives to take from it. Battery electric vehicle (BEV) registrations rose by 14.7% to reach a 6.1% market share, up from 4% a year ago. And over the year to date, BEV volumes are up by over half (50.6%).”
Mike Hawes, SMMT Chief Executive, said: “Last year’s bumper LCV market meant it was always going to be challenging to repeat the success in 2022, and increasingly strong economic headwinds and supply chain challenges continue to test the market. Good progress is being made in the transition to electric, but accelerating the switch will need action from the new Prime Minister to tackle energy costs and inflation, while also encouraging greater charging infrastructure rollout, so that businesses can have greater confidence to upgrade their van fleets to cleanest, greenest models.”
*www.logistics.org.uk/van
Published On: 15/09/2022 15:45:00
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