After showing brief promise in September, the light van market has now been in decline for two consecutive months, as sales numbers shrank by 22% year-on-year in November.
According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), over 24,000 new LCVs were registered in the UK in November, down from the 31,000 sales recorded in November 2021.
The trade association adds that this November 2022 registrations number is the lowest November total since 2013, but concludes that this 22% year-on-year decline is “artificially inflated”, as the same month last year saw the best November sales performance since records began.
The LCV market is still heavily hindered by persistent supply chain issues, which have restricted production globally and limited availability. The SMMT expects the industry to grow by 14% in 2023, but for now, this year’s LCV sales are 20% lower than last year’s numbers, and still 23% lower than annual pre-pandemic volumes.
While the registration of pickups and 4x4s actually increased in November, the registration of light vans under two tonnes fell dramatically by 71%, while the registration of vans between two and two and a half tonnes also plunged by 64%.
Government must take “swift action” to aid EV uptake
In contrast, electric vans (EVs) continue to sell in increasing numbers as 2022 nears its end, as EV registrations rose by 15% year-on-year in November.
That said, EV sales still only account for around 6% of the overall market, and last month’s increase is far less promising than October’s all-electric sales figures, when EV registrations were up 53%.
The SMMT expects light electric van sales to climb by a further 61% in 2023, provided that the UK government takes “swift action” in the coming months to assist the growing demand for battery-powered commercial vehicles, including the introduction of further financial incentives and more investment in the network of van chargepoint stations across the UK.
Nevertheless, this is still a promising time for the electric light van market – with over 15,000 BEVs registered this year so far, annual light electric van sales are up 47% compared to this time last year.
Good month, bad month
Just like the passenger car market, the LCV industry has been hindered by supply shortages for well over a year now, and each van manufacturer has been dealing with supply issues to varying degrees.
Despite their relatively small share of the market, the Isuzu and Land Rover recorded very healthy registration numbers in November, both markedly improving on their November 2021 registration figures. The likes of Renault, Suzuki, Toyota and Volkswagen also recorded strong November registration totals.
Conversely, it wasn’t a healthy month of sales for the likes of Vauxhall, Peugeot, Toyota, Citroën, and Fiat. All of these brands underachieved compared to the overall market by at least 10% (and in some cases, by a lot more than that).
Ford extends insurmountable LCV sales lead
Ford eclipsed its LCV competition yet again in November, taking all three podium places in last month’s model sales rankings. Approaching the 40,000 registrations milestone, the Transit Custom has continued to extend its now insurmountable lead in the sales charts, followed by the larger Transit in second.
The Ford Ranger finished in third place in November, which brings the pickup to within 150 sales of the ‘best-of-the-rest’ candidate, the Vauxhall Vivaro, setting up an interesting December sales showdown for third place in the annual rankings.
