New LCV sales stutter in March, SMMT figures reveal
The UK’s new LCV sales decreased by 3.4% in March to 49,505 units, according to the Society of Motor Manufacturers and Traders (SMMT).
New pickup registrations were down 54% to 3,732 units and uptake of small vans dropped 54% to 732, although demand for large vans rose by 8.7% to 34,805 units and medium-sized van sales increased by 2.3% to 8,365 units.
The month also saw a decline of 15.9% for electric LCVs, with just 3,543 units registered and a market share of 7.1%. By contrast, diesel models accounted for 85.6% of new LCV registrations.
Across the first quarter of the year, pickup sales fell 54.8% to 5,751 registrations, a shortfall of 6,967 compared with the same period last year, while electric vehicle sales rose by 4.3% but still account for just nine per cent of the market.
Deeply concerning
Mike Hawes, SMMT chief executive, said: “A weak March is deeply concerning given this number plate change month often sets the tone for the year. Moreover, with fleet renewal now having contracted in 14 of the past 16 months, it reflects poorly on overall business confidence.
“A thriving market is essential not just to economic growth but to decarbonisation, and it is increasingly alarming to see BEV demand waning when it must accelerate to reach ever-tougher mandated levels. With the transition already falling behind schedule, a holistic review of the transition is urgently needed.”
