“Following the best February performance in 26 years experienced by the new light commercial van market, it is positive to see that the market has continued this trend with another month of growth” said Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT’s new van registration figures.
March witnessed a significant surge in fleet renewal across the UK, with over 50,000 new light commercial vehicles (LCVs) hitting the roads. This surge marked the highest influx of upgraded models in three years, as businesses increasingly opted for the latest versions. The registration of 52,916 new vans from 47,634 units at the same period this time last year, reflected an 11.1% increase.
Registrations surged due to high demand for the largest models, weighing between 2.5 to 3.5 tonnes, which increased by 16.1%. The smallest vans saw the largest percentage increase in registrations, rising by 44.8% to reach 986 units. However, demand for medium-sized vans experienced a slight decrease of -3.6%, totalling 8,939 units from 9,276 units at the same point last year.
New battery electric vans (BEVs) increased by 14.7% to reach 2,906 units. This means that electric vans now make up 5.5% of the LCV market share, only slightly up from 5.3% in March last year.
Sue Robinson added: “Although electric vehicles in the LCV market have seen a slight increase it is somewhat concerning to see these figures hovering around a similar market share to that of the same period last year.
“Following a disappointing Spring Budget, in which price incentives were largely ignored, there still remains concerns amongst van drivers about EV range anxiety, charging infrastructure plus the high price of our-right purchase and the unknown second-hand values, should the vehicle no longer suit their business operations.
“If ZEV targets are to be met it seems imperative that price incentives are put in place as well as addressing concerns about charging by expanding suitable charging infrastructure for vans throughout the UK. Additionally, the fourfold higher VAT cost on public charging compared to private or home charging creates another challenge for businesses aiming to shift to a net-zero fleet.
