The LCV market has recorded its fifth consecutive month of growth after May – light van sales grew by 15% in May compared to the same month last year.
According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), over 25,000 new LCVs joined the UK road network last month – around 3,000 more than in May 2022.
The SMMT adds that total LCV sales for the year have now reached over 135,000 light vans. This is around 17,000 more vans registered than at the same point last year – a reflection of increasing production and demand – but this year-to-date sales volume is still 13% lower than the sales total five months into pre-pandemic 2019.
Registrations increased across almost every sector. 4×4 registrations for May grew by a rather ridiculous 699% when compared to the same month last year, and sales of mid-size vans (between two and two-and-a-half tonnes) and pickups also grew by 57% and 13% respectively. In contrast, the sales of light vans under two tonnes fell by 42%.
Large vans (between two-and-a-half and three-an-a-half tonnes) still make up the large majority of new van sales, and this sector grew by 8% year-on-year.
Though sales are on the rise, the supply issues manufacturers are facing haven’t entirely dissipated, and the War in Ukraine and China’s persistent Covid-19 issues could cause further supply strain in the months to come.
BEVs now account for one in 24 of new LCVs registered
The latest figures show that electric van (BEV) uptake is indeed growing in the UK as 2023 progresses – BEV sales grew by 20% in May when compared to the same month last year.
Just over 7,000 new electric vans have been registered in the UK so far this year, around 1,000 more than at the same point in 2022. With more than 25 electric van models now available in the UK, battery-powered vans now account for 5% of the new LCV market as a whole, which is the same as last year.
This means that, while new BEV sales numbers are growing, this is a reflection of the LCV industry growth as a whole, and the ratio of combustion-powered van buyers vs. electric van buyers hasn’t really changed since 2022. Diesel vans still account for 93% of new light van sales, and demand for electric vans remains some distance behind the new car market, where the BEV market share is three times greater.
As ever, the SMMT argues that limited customer incentives and inflationary pressures are currently key barriers to BEV uptake, besides the lack of charging infrastructure across the UK.
Good month, bad month
Just like the passenger car market, the LCV industry has been hindered by supply shortages for over two years now, and each van manufacturer has been dealing with supply issues to varying degrees.
The most impressive sales increase belongs to Land Rover, which totalled a staggering 976% growth in registrations in May, after only selling 38 models in May 2022. Citroën, Volkswagen, Renault, Nissan and MAN also outperformed the overall market by more than 10% last month.
Conversely, it wasn’t a healthy month of sales for the likes of Ford, Isuzu and Vauxhall. 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 remain unchallenged at the top of the best-sellers list
Following Ford’s 2022 dominance, the 2023 LCV best-sellers race has kicked off in the same vein, with the last-year’s best-selling LCV, the Transit Custom, in pole position. The larger Transit is also becoming a permanent fixture in second place, as Ford locked out the top two spots in May.
The Vauxhall Vivaro is the UK’s ‘best-of-the-rest’ candidate, holding on to fourth in the annual rankings. The Ford Ranger pickup is still the UK’s best-selling pickup model by a country mile, and finished in fifth in the monthly rankings for the second consecutive month.
The Volkswagen Transporter, Citroën Berlingo, and Mercedes-Benz Sprinter sit in the middle of the pack, while the Renault Trafic, Ford Transit Connect and Peugeot Partner complete the annual rankings after May.
