Slowdown in LCV sales during January – SMMT
The Society of Motor Manufacturers and Traders (SMMT) has reported a slowdown in LCV sales at the start of 2025, after robust growth through 2024.
Figures reveal that 19,050 vans, pick-ups and 4x4s were registered during the month, which represents a decline of 20.5% down and means the LCV market has now contracted for two months in a row.
Small van registrations were up 89.8% to 668 units but made up just 3.5% of the market, while registrations of the largest vans were down 22.3% to 11,537, medium vans fell by 30.4% to 3,507 units, while 4x4s and pick-ups fell by 27.2% and 6.5% respectively.
The data also found that electric van uptake rose for the fourth consecutive month, up 12.4% to 1,464 units and an overall market share of 7.6%.
The SMMT is now forecasting EV volumes to reach 33,000 this year, representing a 10.6% share of the market. However, this remains well below the 16% mandated.
Mike Hawes, SMMT chief executive, said: “The van market has enjoyed a bullish performance over the past two years but, amid a tough economic environment, businesses are under pressure. It means action is needed to drive fleet renewal and back the industry which has invested massively to produce new EV models.
“The mandate review must, therefore, deliver workable regulation that reflects market realities, and ensure infrastructure rollout that makes fleet decarbonisation a commercially viable, compelling proposition.”
