In October 2023, the automotive industry witnessed a noteworthy surge in registrations for Light Commercial Vehicles (LCV), with a remarkable increase of 17.7% marking the tenth successive month of growth in the sector.
The latest registration figures highlighted a decline in registered battery electric commercials, witnessing a drop of -20.2% to 1,362 units. Despite this, the volume of electric vans has surged to 15,658 units this year (19.8% change year to date), representing 5.5% of the total market share.
The heavier sectors of LCVs have improved substantially with:
- 2.0-2.5t sized vans rising to 3,801 units from 1,844 units, a staggering 106.1% increase.
- 2.5-3.5t sized vans representing 69% of all light commercials registered, recorded a 5.3% increase in October, to 18,176 units from 17,263 units.
October’s registration figures experienced a decrease in the number of battery electric commercials registered, down -20.2% to 1,362 units. Whilst the volume for EV vans has increased to 15,658 units this year (19.8% change year to date), it still only represents 5.5% of the market of the total market share.
As the Autumn Statement approaches, it presents a significant opportunity for the government to address the specific infrastructure needs of electric vans, especially in expanding the charging point network. With the Zero Emission Vehicle Mandate set to take effect in less than two months, it becomes essential to introduce incentives that motivate consumers to transition to electric vehicles. Van operators, driven primarily by business viability and competitive pricing, require the government’s intervention in overcoming these barriers to foster growth in the electric van market.