The new van registration figures indicate that market confidence is improving, following its fourth consecutive month of growth, and a clear indication that supply chain shortages are easing,” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents car and commercial retailers across the UK, commenting on the latest SMMT registration figures.

April’s new van market recorded overall growth of 4.9% with 22,665 new LCVs registered. The industry anticipates circa 326,000 new light commercials will be sold by the end of 2023; this is a 15.4% increase over production in 2022. Year-to-date registrations are down -13.7% from pre-pandemic levels in 2019.

The largest LCV sector (2.5-3.5T) fell -6.2% in April, roughly 1,000 units less than this time last year. The large 2.5-3.5t market remains the highest performing sector, representing 67% year-to-date of all LCVs registered. Mid-size vans between 2.0-2.5 tonne performed better than expected this month with a 103.5% increase in registrations, from 2,122 units to 4,318 this year.

Battery electric light commercials recorded an impressive growth of 62.6% in April, and now hold a market share in 2023 of 6.6%.

Sue Robinson continued: “NFDA members are optimistic that the increase in registration figures the past four months will continue for the remainder of the year. The economic supply of diesel-powered LCVs still holds a substantial proportion of the van and light commercial market share (92.5%), it is apparent that far more needs to be done to support the transition to zero emissions for commercials.”

ENDS -

NOTES TO EDITORS -

Adam Weeks, NFDA Communications Officer

Direct: 020 7307 3413

Mobile: 0788 003 9897

Email: adam.weeks@rmif.co.uk