Analysis of UK LCV Market Performance in June 2024
The UK’s light-commercial vehicle (LCV) market experienced a slight decline in June after 17 consecutive months of growth. According to Andy Picton, chief commercial vehicle editor at Glass’s, a total of 33,066 new LCVs were delivered in the UK last month, marking a 4.5% decrease compared to the previous year.
The decline in registrations was attributed to varying demand across different LCV markets. Pickups saw an 18.1% drop, while vans between 2.5 and 3.5 tonnes gross-vehicle weight (GVW) fell by 8.2%. However, there was an increase in registrations for vans below 2 tonnes GVW and vans between 2 and 2.5 tonnes GVW.
Ford continued to dominate the market, with the Transit Custom and Transit taking the top two spots in June’s best-seller table. The Mercedes-Benz Sprinter and Renault Trafic followed closely behind.
Despite the overall decline in LCV registrations, the market for battery-electric vehicles (BEVs) faced its third consecutive monthly drop. Registrations of BEVs fell by 16.8% compared to June 2023, with only 1,476 all-electric units registered in the month.
Vauxhall emerged as a leader in the BEV market, registering 424 units in June, giving them a 27.8% share of the EV market. The Vauxhall Vivaro Electric was the best-selling electric van for the month.
Looking ahead, the industry is bracing for challenges that could impact BEV registrations in the coming years. The removal of the Congestion Charge Exemption for BEVs in London from December 2025 poses a potential setback for the market.
With a new UK government in place, there is a call for re-energizing demand for electric vans through a sensibly-priced van-specific charging network and economic incentives for electric-van growth. The industry must also consider supporting hydrogen development in larger LCVs and trucks to facilitate a full zero-emission transition.
Overall, the UK’s LCV market is facing uncertainties and challenges, but with strategic planning and support, the industry can navigate through these obstacles and work towards a sustainable and efficient future.