The British light van market recorded a 3% sales decline year-on-year in March, this being the fourth consecutive month of shrinking registration totals for the industry.
While not as concerning as the 21% and 19% sales drops in January and February respectively, declining sales numbers in March further highlight that business confidence is still rather low, which is holding back investment in the very latest LCV models.
That said, March 2024’s registration total was particularly high when compared to the years prior and was thus a tough act to follow, and the electric van market still bucked the overall sales trend with a significant 34% registrations growth.
March is typically a high-volume sales month as buyers wait for the new license plates, and last month was no different. According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), over 51,000 new LCVs arrived on British roads last month, this being around 1,700 less registrations than the same month last year.
While Covid-related supply chain issues are now in the rearview mirror, further market uncertainty has the potential to derail LCV sales in the coming months. It is hard to predict how the current level of global chaos brought on by America’s current trade war against the rest of the world will effect us here in the UK. Van manufacturers are urgently reviewing their plans as a result of increasing tariffs and potential counter-tariffs.
Looking at the March sales results in more detail, registrations fell in the 4×4 category by 19% while the sales of new pickup models actually rose by 40%. Compact vans (under two tonnes) also grew by a significant 60%recording 55% more sales year-on-year. This is becoming a trend, as compact van sales are now taking up a larger proportion of total LCV sales month after month.
Meanwhile, sales of mid-sized vans (between two and two-and-a-half tonnes) dropped by 9%, while large van registrations (between two-and-a-half and three-and-a-half tonnes) fell by 10%.
All-electric sales amp up
In stark contrast to the LCV market at large, the electric van (BEV) sector has recorded a substantial 34% registrations increase in March, following February’s 55% all-electric sales bump. This is a promising start for the BEV market, and further growth is anticipated in the coming months, but will this be enough to meet government mandated sales targets?
The government’s Vehicle Emissions Trading Scheme targeted a BEV market share of 16% for each brand by the end of 2024. For the market overall, electric vans currently account for 8% of the total number of new registrations in March. By comparison, electric models accounted for 19% of new sales in the car market last month.
So, why is the BEV market not growing like the electric car market? The SMMT has praised the government’s decision to extend the Plug-in Van Grant into the next financial year, but argues that increasing the rollout of charging stations – including van-specific charging infrastructure – will increase consumer BEV interest.
Good month, bad month
March’s registration results are a rather mixed bag when assessing the sales performance of individual brands, with smaller brands often benefitting at the expense of established names.
Holding the biggest market share, Ford can be pleased with its current sales performance. Bucking the overall sales trend, Ford registrations grew by 9% year-on-year, this being 12% above the market average. Maxus meanwhile almost doubled its registration numbers last month, and the likes of MAN, KGM Motors and Isuzu also beat the industry average by more than 30%.
Conversely, Fiat sales dropped by 34%. It also wasn’t a healthy month of sales for the likes of Citroën, Mercedes-Benz, Vauxhall and Volkswagen. All of these brands underachieved compared to the overall market by at least 10%.
Ford Transit Custom dominates March sales rankings
If the likes of Volkswagen or Vauxhall aimed to mount a challenge to the sales supremacy of Ford popular LCV range, high-volume March was these manufacturers’ biggest chance to close the annual registrations gap and catch up. Rather predictably though, that didn’t happen…
The Ford Transit Custom recorded over 9,000 sales in March alone – 7,000 more than its trailing Vauxhall Vivaro rival. The popular Ford was crowned the UK’s best selling LCV at the end of 2024 with a rather ridiculous 28,000-model sales lead over the Vivaro, and it has started 2025 in the same strong sales form.
The Ranger pick-up has surpassed the large Transit van to take second in the annual leaderboard, while the Vauxhall Vivaro and Mercedes-Benz Sprinter occupy fourth and fifth.
The Sprinter is followed by the Renault Trafic, Citroën Berlingo, Peugeot Partner, Volkswagen Crafter and Peugeot Expert which completes the top ten sales standings.
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