LCV market enjoys first growth month of 2022
- 6 October 2022
- Posted by: Alan Feldberg
- Category: News
Britain’s light commercial vehicle (LCV) market grew by 10.8% to 34,950 units in September, making it the first month of growth in registrations this year.
However, according to the Society of Motor Manufacturers and Traders, the performance is still some 35.5% below the five-year pre-pandemic average.
The year-on-year uptick was driven by the fulfilment of orders for vans weighing more than 2.5 tonnes, up 13.9% to represent 73.8% of the market, while registrations of vans weighing more than 2.0 tonnes to 2.5 tonnes rose by 40.8%.
Battery electric vehicle (BEV) deliveries continued their upward trend, rising 70% to a market share of 4.4% – up from 2.9% in 2021 – while BEV volumes have increased by 52.9% from January to September.
Mike Hawes, SMMT chief executive, said: “While the full recovery of Britain’s new van market remains some way off, September growth reflects van makers’ efforts to fulfil strong order books despite a paucity of supply. High energy costs and wider economic uncertainty, however, will undermine operator confidence, meaning that long-term measures to provide stability and growth are needed if the sector – so often a bellwether for business activity – is to return to its past success.”