LCV registrations return to growth
- Posted by: Alan Feldberg
- Category: News
UK new light commercial vehicle (LCV) registrations grew to 22,098 units in January, a year-on-year increase of 25.8%.
This is according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), which reported the growth represents the first rise in new LCV registrations since the September plate change last year.
In further positive news, January saw record deliveries of battery electric vans for the month, up 53.5% to 993 units, accounting for one in 22 vans joining UK roads. With nearly 40 plug-in LCV models currently available and more in the pipeline this year, the trend is set to continue, with the latest market outlook anticipating 2023 BEV uptake to rise by 64.5% to some 28,000 units.
Amplified by green fleet investment, the total LCV market is also set to grow this year, with 321,000 van registrations targeted, amounting to an uplift of 13.9% – with a market value of more than £13bn, a £1.5bn increase on 2022.
Mike Hawes, SMMT chief executive, said: “The LCV sector is already delivering growth for the UK in 2023, bucking the recessional economic trends. Manufacturers have invested billions to bring choice to the market, especially in electrified vehicles, so harnessing this momentum will be essential to an increasingly green recovery. Accelerating electric van uptake means delivering infrastructure and incentives to give every van operator the confidence to make the switch.”