According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT) UK, the UK’s new light commercial vehicle (LCV) market fell by 18.4% in October, with 22,386 of the latest vans joining Britain’s roads.
Despite challenging conditions, battery electric vehicle (BEV) deliveries in the sector continued to increase, with 1,706 deliveries during the month. This was up from 1,119 in 2001 and represents an impressive 52.5% rise compared to October 2021. Electric vans sales for October represented 7.6% of the overall LCV market which is up from 4.1% compared to the same month last year.
Manufacturers continue to invest to bring more zero emission van models to market. There’s now a growing number of van buyers opting to reduce their carbon footprint with the benefits of lower taxation, purchase incentives and urban zone charge exemptions.
This trend has carried on throughout 2022, with BEV deliveries totalling 13,065 so far this year. This is up from 8,546 deliveries for the same period last year which is an increase of 52.9%. Overall for the year so far, BEV deliveries represent a 5.5% market share. This is up from just 2.9% for the same period last year.
BEV registrations are expected to continue growing as new models come to market. That said, their anticipated share in 2023 has been revised to 8.7%, down from the 9.2% expected in our last outlook in July. In 2024, BEVs are expected to represent 11.0% of the market.
While manufacturers are committed to meeting Britain’s ambitious net zero targets, success depends on a strong, flexible market. The sector is calling for fiscal measures that ensure robust BEV demand, as well as attractive incentives and action to drive the rapid roll-out of suitable van chargepoint stations across all regions of the UK.
Mike Hawes, SMMT chief executive, said, “The UK’s van market continues to be shackled by supply shortages amid difficult operating conditions, which will likely continue into 2023, easing over the course of the year.
“Demand for zero emission vans remains robust despite these challenges but a successful net zero transition will require measures targeted at long-term operator confidence.”
