LCV market nosedives in August

The UK light commercial vehicle (LCV) market fell by 24.6% to 15,520 units in August, meaning registrations have fallen every month of the year.

According to the Society of Motor Manufacturers and Traders, global supply chain challenges have acted as a handbrake on registrations, while growing economic headwinds are also a concern.

In more positive news, battery electric vehicle (BEV) registrations rose by 14.7% to reach a 6.1% market share (from four per cent a year ago) as more operators continue to recognise the considerable benefits available, including purchase incentives, lower taxation, exemptions from congestion and clean air zone charges in urban areas, and of course, zero emission mobility. BEV volumes are up 50.6% over the year to date.

Mike Hawes, SMMT chief executive, said: “Last year’s bumper LCV market meant it was always going to be challenging to repeat that success in 2022, and increasingly strong economic headwinds and supply chain challenges continue to test the market. Good progress is being made in the transition to electric, but accelerating the switch will need action from the new Prime Minister to tackle energy costs and inflation, while also encouraging greater charging infrastructure rollout, so that businesses can have greater confidence to upgrade their van fleets to cleanest, greenest models.”