LCV market up 21% in 2023

The light commercial vehicle market grew by 21% last year to reach 341,455 units, according to the Society of Motor Manufacturers and Traders (SMMT).

The UK saw an additional 59,316 LCVs join its roads than in 2022, following an extra £2bn investment by companies. December was particularly strong, with demand up 36.1% – the best total for the month since 2015.

Meanwhile, uptake of new battery electric vans (BEVs) hit record volumes in the year as volumes grew by 21% to 20,253 units, representing 5.9% of the market. The year ended on a high as BEV uptake jumped 73.8% to 2,964 units in December, representing 10% of registrations in the month.

Mike Hawes, SMMT chief executive, said: “Rising demand for new vans in every month of 2023 – along with record uptake of battery electric vans – is positive news for the UK, given the vital role of these vehicles in keeping businesses and the economy moving. Demand for new vans is also essential for decarbonisation and, as the UK’s ambitious mandate for electric van sales comes into effect, every lever must be pulled to make the switch accessible for fleets in every region. If 2024 is to be the year of the electric van, investment in chargepoint infrastructure is mission-critical – bringing with it the successful green transition and economic growth the nation needs.”