Light Commercial Vehicle Market Falls Nearly A Fifth As Shortage Hits October Deliveries – Car Dealer Magazine

The light commercial vehicle market fell 18.4% last month to its lowest October level in 10 years, the SMMT announced today.

A total of 22,386 of the latest vans hit Britain’s roads, but despite what the trade body described as ‘robust demand’, registrations were at their lowest level in October since 2012, when 17,794 units were registered .

It was also around 16.5% lower than October’s pre-pandemic five-year average of 26,799 units, as supply shortages continued to constrain global production and availability.

But battery electric van (BEV) deliveries continued to rise, rising 52.5% year on year in October to take 7.6% of the market, from 4.1% in the same month last year.

October’s best-selling LCV was the Ford Transit Custom at 2,463 units, followed by its stablemate Transit at 2,336 and the Volkswagen Transporter, pictured, at 1,799.

October 2022 Best Sellers via SMMT

Source: SMMT

The overall market has shrunk since the start of the year – down 19.9% ​​to 235,962 units, about 24.1% below the pre-pandemic five-year average of 310,682 units from January to October.

As such, the SMMT lowered its full-year outlook to 290,000 units, 18.5% lower than 2021 and 20.8% lower than 2019.

And while the LCV market is expected to recover in 2023 to 330,000 units, and up to 351,000 units in 2024, those totals will still be below pre-pandemic levels.

BEV registrations are expected to rise as new models hit the market, but their forecast share in 2023 has been revised to 8.7%, from 9.2% expected in the latest SMMT outlook in July.

In 2024, BEVs are expected to represent 11.0% of the market.

The SMMT said that while manufacturers are committed to meeting Britain’s ambitious net zero targets, success depends on a strong and flexible market.

He added that fiscal measures are needed to ensure strong demand for BEVs, along with attractive incentives and actions to support the rapid roll-out of van-friendly charging stations across the UK.

Mike Hawes, Managing Director of SMMT, said: “The UK van market continues to be hampered by supply shortages in difficult operating conditions, which are likely to continue into 2023, easing over the course of the year. of the year.

“Demand for zero-emissions vans remains robust despite these challenges, but a successful net-zero transition will require targeted action on long-term operator confidence.”

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