Analysis of UK LCV Market Performance in April 2024

The UK LCV market saw a positive performance in April 2024, marking the 16th consecutive month of growth. Ford emerged as the dominant player in the market, with their vehicles leading the sales charts. However, the performance of battery-electric vehicles (BEVs) was not as strong, with a significant decline compared to the previous year.

In April, a total of 23,889 new LCVs hit the roads in the UK, showing a year-on-year increase of 5.4%. The best-performing category was rigid commercial vehicles between 3.5 and 6 tonnes GVW, which saw a remarkable surge of 122% in deliveries. Vans across different weight categories also experienced growth, contributing to the overall positive performance of the market.

Ford secured three out of the top four spots in the LCV registration table, with models like the Transit and Transit Custom leading the way. However, the performance of BEVs in the market was muted, with only 861 new BEVs registered in April, marking a 42.4% decline compared to the previous year.

Despite the challenges faced by the BEV segment, manufacturers like Vauxhall, Ford, and Maxus recorded the most electric LCV deliveries in April. The UK’s zero-emission vehicle (ZEV) mandate aims to have 10% of LCVs sold emitting no CO2 at the tailpipe, but only a few manufacturers are currently on track to meet this target.

Looking at the used LCV market, prices have started to soften as stock volumes increase. Clean, low-mileage stock is selling well, while higher-mileage examples are struggling to maintain their values. Sales volumes surged in April, with average prices increasing by 4.3%, although still below levels from the previous year.

Overall, the UK LCV market showed resilience in April 2024, with Ford leading the sales charts and challenges faced by the BEV segment. As the market continues to evolve, manufacturers will need to adapt to changing consumer preferences and regulatory requirements to stay competitive.