UK’s Light Commercial Vehicle Market Sees Downturn in June 2024, Ending 17-Month Growth Streak
The UK’s light commercial vehicle (LCV) market has hit a bump in the road, with registrations dropping by 4.5 per cent in June 2024, marking the end of a 17-month streak of continuous growth. Despite this setback, the market has shown resilience in the first half of the year, with a 4.5 per cent increase in registrations compared to the same period last year.
The best-selling LCV models in June 2024 include the Ford Transit Custom, Ford Transit, Mercedes-Benz Sprinter, Renault Trafic, Peugeot Partner, Ford Ranger, Vauxhall Combo, Vauxhall Vivaro, VW Transporter, and Ford Transit Connect. These models have continued to be popular choices among consumers in the UK.
The decline in June can be partly attributed to the exceptional performance in June 2023, when the market experienced a surge following COVID-19 related disruptions. This year’s comparison may make the decline appear more significant than it actually is.
Demand for different vehicle segments varied, with vans weighing between 2.0 to 2.5 tonnes and vans weighing 2.0 tonnes or less seeing increases in registrations, while vans weighing between 2.5 and 3.5 tonnes, pickups, and 4x4s faced declines.
Looking at the year-to-date best-selling LCV models, the Ford Transit Custom, Ford Transit, Ford Ranger, Mercedes-Benz Sprinter, Vauxhall Vivaro, VW Transporter, Renault Trafic, Citroen Berlingo, Ford Transit Connect, and Vauxhall Combo have been leading the pack.
SMMT Chief Executive, Mike Hawes, emphasized the importance of re-energizing zero-emission van demand to support the market’s growth and the UK’s net zero ambitions. He called for a strategy to expand the UK’s van-specific charging network and maintain fiscal incentives to keep the market on track.
In terms of electric vehicles, battery electric van registrations saw a decline for the third consecutive month in June, accounting for just 4.7 per cent of all new light van registrations in the first half of 2024. This highlights the need for continued efforts to promote the adoption of electric vans in the UK market.
Overall, while the LCV market may have experienced a downturn in June, the resilience shown in the first half of the year and the potential for growth in the electric vehicle segment indicate a promising future for the UK’s commercial vehicle market.