The LCV market has recorded its fourth consecutive month of growth after April – light van sales grew by 5% in April compared to the same month last year.
According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), close to 23,000 new LCVs joined the UK road network last month – around 1,000 more than in April 2022.
The SMMT adds that LCV sales for the first four months of the year totalled nearly 110,000 light vans. Although this is promising growth, a reflection of increasing production and demand, this year-to-date sales volume is still 14% lower than the registration total four months into pre-pandemic 2019.
Registrations increased across two primary growth sectors – 4x4s, up a massive 371%, and mid-size vans (between two and two and a half tonnes), up 104% when compared to April last year. That said, the sales of light vans under two tonnes fell by 48% in April compared to the same month last 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.
“Limited incentives and inflationary pressures” hindering electric van uptake
The latest figures show that electric van (BEV) uptake is indeed growing in the UK as 2023 progresses – BEV sales grew by 63% in April when compared to the same month last year.
Just under 6,000 new electric vans have been registered in the UK so far this year, but the SMMT says that it had expected more electric LCV registrations at this point in the year, and it has revised its market projections as a consequence. While BEVs currently account for 5% of the LCV market (the same as last year), the SMMT now says that it expects the BEV market share to increase to 7% by the year’s end, down from its 9% prediction given in January.
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 347% growth in registrations in April compared to the same month last year. Volkswagen, Peugeot, Renault, Isuzu and MAN also outperformed the overall market by more than 10% in April.
Conversely, it wasn’t a healthy month of sales for the likes of Ford, Maxus and SsangYong. 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. Ford actually took the top two positions last month, with the popular Transit Custom followed by the larger Transit in second.
The Vauxhall Vivaro is now the UK’s ‘best-of-the-rest’ candidate, after leapfrogging the Volkswagen Transporter in the monthly rankings. The Ford Ranger pickup dropped to fifth in the April rankings, but is still the UK’s best-selling pickup model by a country mile, and holds on to third.
The Citroën Berlingo, Mercedes-Benz Sprinter and Peugeot Partner sit in the middle of the pack, while the Renault Trafic and Peugeot Expert complete April’s top ten.
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