UK’s New LCV Market Sees Decline in June After 17-Month Growth Streak

The UK’s new LCV market may have experienced a slight dip last month, but overall, the industry has shown resilience and growth in the first half of 2024. According to the Society of Motor Manufacturers and Traders (SMMT), the market saw a 4.5% increase in the first six months of the year, with a total of 177,620 new vans, pick-ups, and 4x4s hitting the roads.

While June saw a decrease in sales compared to the previous year, the SMMT pointed out that this was partly due to the exceptional performance in June 2023, where the industry met pent-up demand following the Covid pandemic. Despite this, the market remains strong, with the Ford Transit Custom leading the pack as the top-selling LCV last month.

One area of concern highlighted by the SMMT is the decline in sales of battery-electric vans (BEVs), which fell for the third consecutive month. With BEVs accounting for just 4.7% of all new light van registrations so far this year, the industry is falling short of the 10% target set for zero-emission vehicles.

SMMT chief executive Mike Hawes emphasized the importance of re-energizing zero-emission van demand to support the UK’s net zero ambitions. He called for a strategy to grow the country’s van-specific charging network and maintain fiscal incentives to keep the market on track.

Despite the challenges, the LCV market in the UK remains a vital component of economic growth. With the right support and initiatives in place, the industry has the potential to continue its positive trajectory and contribute to a more sustainable future.