LCV Market Declines in November at -22.2%

“A disappointing month for light commercials registrations, due to a lack of future business confidence and concerns over possible additional business costs incurred in the recent budget,” 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.

In November, Light Commercial Vehicle (LCV) dealers registered 23,570 new vans to 3.5T, a decline of -22.2% compared with the same month last year.

The majority of vehicle segments recorded lower volumes. Small vans up to 2.0 tonnes saw the sharpest contraction, falling to 462 units from 999 last year (-53.8%).

Medium vans between 2.0–2.5 tonnes dropped to 3,976 units, down from 4,999 (-20.5%). Heavier vans in the 2.5–3.5 tonne category, which make up the largest share of the market, also declined, registering 16,463 units compared with 20,504 previously (-19.7%). The 4×4 segment was also lower, down -10.3%, with 705 units registered.

Pick-up registrations continued to weaken, reaching 1,964 units, a reduction of -34.8%, with retailers reporting that changes to double-cab taxation earlier this year remain a key factor in buyer hesitation.

November saw a contrasting picture for battery electric vans. BEVs under 3.5 tonnes increased 30.1% to 2,799 units, representing 11.8% of the monthly market share. When including BEV rigids, total electric LCV registrations for the month reached 2,909 units. Year-to-date, BEV registrations have risen to 25,116 units, up 45.7% on the same period last year.

Sue Robinson added: “When both LCV’s sub-3.5t electric vans are added to the new 4.25t GVW heavier weight EV commercials the market share YTD equates to 9.4% compared with the current ZEV mandate requirement of 16%. This ZEV target for next year is at 24% and looks very unlikely to be reached.”