UK LCV sales slow as electric van uptake grows

The British isles new gentle professional motor vehicle (LCV) current market fell by 26.9% yr on yr to 17,566 registrations in the to start with thirty day period of 2022 when compared with a bumper January past year, according to the Society of Motor Suppliers and Traders (SMMT).

Even though it was the weakest begin to a year because 2013, January has traditionally been a unstable month thanks to the intermittent character of fleet renewal. The decrease followed what was the ideal January for 31 a long time in 2021 when new products and compelling promotions saw registrations access 24,029 units, up 2% even on a pre-pandemic January 2020.

Newly registered modest vans, weighing fewer than or equivalent to two tonnes, much more than halved at 53.9% down though medium-sized motor vehicles in excess of 2.5 tonnes, symbolizing two-thirds of the LCV marketplace, fell 29.8%. Pickup truck profits also declined, by 17.4%, but 4x4s recorded a 196.8% boost, though they remain a fractional segment.

Even though diesel remained the dominant gasoline style for industrial autos, with a 94.3% sector share, need for battery powered vans grew 21.4% to 647 models registered, 3.7% of the general market.

Electric van uptake is predicted to climb appreciably this 12 months as a consequence of crucial new product launches, by 81.3% to 23,130 models, which would signify 6.4% of the sector, compared with 3.6% or 12,759 units in 2021. This signifies about 1 in 16 new vans will be absolutely electrical in 2022.

SMMT’s newest marketplace outlook forecasts the LCV sector to develop 2% total in 2022, to 362,620 models. This would put the current market just shy of the 365,778 vehicles registered in 2019 and only 3.5% below the sector’s report year of 2016. 2023, meanwhile, is envisioned to proceed this expansion, with 387,420 registrations, overtaking 2019 and even 2016 volume to set a new current market report. Electric powered van registrations are predicted to increase a even further 57.6% next calendar year, to a sector share of 9.4%.

Mike Hawes, SMMT main executive, explained: “Despite the gradual get started, the van market place is expected to write-up a further solid 12 months. Even though chip shortages, increasing inflation and improved vitality expenses will have an impression, progress is continue to expected specified the inexorable increase of home deliveries and broader economic restoration. With extra battery run vans coming to market, the need for this new engineering witnessed in January is very likely to carry on throughout the 12 months. With uptake prices still lagging the new auto market place, which has the very same stop of sale date, the value of bringing every single lever – order incentives, fiscal measures and recharging infrastructure financial commitment – to bear on this essential sector is self-evident.”