Analysis of the UK’s Light Commercial Vehicle Market in July 2024 by Andy Picton

The UK’s light commercial vehicle (LCV) market has seen some interesting trends in July, with a decline in overall registrations but an increase in vehicles with higher specification levels. As the chief commercial vehicle editor at Glass’s, Andy Picton provides valuable insights into the market dynamics.

One of the key shifts in the market is the increasing demand for LCVs with additional specifications such as air conditioning, parking sensors, and reversing cameras. This trend is driven by a focus on duty of care and driver welfare, with newer vehicles offering a safer and more comfortable driving experience.

The pickup sector, in particular, has seen a rise in demand for vehicles with a higher ‘car-like’ specification, with base models attracting only a small percentage of registrations. Ford continues to dominate the LCV market, with the Transit Custom and Transit leading the way in registrations.

Electric van registrations, however, have not seen the same level of success, with BEV registrations down compared to previous months. The cost of electric vans, potential discontinuation of the plug-in van grant, and a lack of a van-specific charging network are cited as reasons for the slow adoption of electric vans.

In the used LCV market, there is currently an abundance of stock available, leading to a decrease in average selling prices. Despite this, sales volumes have increased, with Euro 6 vehicles making up the majority of sales at auction.

Overall, the LCV market in the UK is experiencing a mix of challenges and opportunities, with shifts towards higher specification vehicles and slower adoption of electric vans. As the market continues to evolve, it will be interesting to see how manufacturers and buyers adapt to these changing trends.