Following last month’s growth, the medium-sized van segment (>2.0 – 2.5 tonnes) saw a -27.6% decline. Year to date, this segment, which is a good indicator of the robustness of the service sector, is -11.6% below 2021’s levels.
Looking at the other segments of the market, pickups fell by -48.4% to 4,457 units; small vans experienced a significant decline, down by -70.8% to less than 1,000 units, whilst 4x4s fell by -33.3% although this is the smallest segment in volume terms (446 units).
Positively, sales of battery electric vans rose by 17.7% to 1,909 units. In the first quarter of the year, BEVs are up by an impressive 68.9%.
Product and component shortages have restrained the market. Although the sales of battery electric vans were up 17.7% in March, this was much lower than the growth in previous months, indicating the downturn in product supply.
Ford was the market leader in March with a remarkable 41.9% share. It was followed by Vauxhall (10.4%) and Citroen, Peugeot and Volkswagen with an 8.1% market share each.
Although March’s decline is significant and was anticipated due to the ongoing supply constraints, it is important to note that pent-up demand boosted the market last year.
External factors will impact the market in the short and medium term, but dealers are hopeful the situation will improve going forward.
