CV sales continue upward trend
The UK new light commercial vehicle (LCV) market recorded its fourth straight month of growth with 22,665 new units registered in April.
According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), registrations in the month grew by 4.9%.
Meanwhile, 109,937 new LCVs have been registered this year, which is just 13.7% off 2019.
The market’s transition towards zero emission vehicles also received a boost with a 62.6% increase in battery electric vehicle (BEV) uptake – an uplift to 1,494 units and a market share of 6.6%. However, with BEV registrations in the year to date broadly in line with overall market growth at 14.8%, BEV market share for 2023 remains static at 5.4%.
Looking ahead, easing supply chain disruption means that the overall market outlook for the year has been revised upwards from January. The industry anticipates 326,000 new LCV registrations by the end of the year, a 15.4% increase on 2022 and a 1.4% increase on January’s outlook.
However, the anticipated BEV market share for 2023 has been revised downwards from 8.6% to 7.4%, as operators continue to face challenging conditions with high energy costs.
Mike Hawes, SMMT chief executive, said: “Four months of growth signals recovery is in sight for the van market, with easing supply chain issues raising confidence and boosting the overall market outlook. Ongoing economic uncertainty, however, must be addressed to help sustain and expand EV uptake. To ensure green growth that decarbonises the UK, the ever-growing choice of electric vans delivered by manufacturers must be backed by the right infrastructure and incentives so more businesses can confidently make the switch.”
