Van market “very difficult” but growth forecast for 2023

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The UK’s new light commercial vehicle (LCV) market fell by -22.2% in November, the lowest recorded for the month since 2013 and -13.9% below the pre-pandemic five-year average.

The Society of Motor Manufacturers & Traders (SMMT) which released the data said that despite strong order books throughout 2022, performance had continued to be hindered by persistent supply chain issues, which have restricted production globally and limited availability.

Registrations are down -20.1% in the year to date at 260,314 units and some -23.2% off pre-pandemic volumes. The SMMT said growth is expected to return in 2023.

Light commercial vehicle registrations are estimated to grow by 13.8% in 2023, with BEV volumes expected to rise 60.7% to take an 8.7% market share.

“The UK van market has experienced a very difficult year, battling a multitude of challenges to meet demand, but has benefitted from an EV boost as operators increasingly make the switch to zero emission.

“As supply constraints ease, we look with some optimism towards next year and a return to growth.

“It is imperative, however, that government takes action to help accelerate commercial vehicle recharging infrastructure, so that the vehicles that keep Britain moving can fully deliver on their ability to boost the economy.”





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