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SMMT: UK van market falls -6.0% however market stays above pre-pandemic ranges - Pak Auto Services
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SMMT: UK van market falls -6.0% however market stays above pre-pandemic ranges

SMMT: UK van market falls -6.0% however market stays above pre-pandemic ranges

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UK mild business automobile (LCV) registrations declined -6.0% to 16,165 items in February in contrast with the identical month final yr, when pent-up demand noticed the market develop 22.0%, in accordance with the newest figures printed by the Society of Motor Producers and Merchants (SMMT)

UK mild business automobile (LCV) registrations declined -6.0% to 16,165 items in February in contrast with the identical month final yr, when pent-up demand noticed the market develop 22.0%, in accordance with the newest figures printed by the Society of Motor Producers and Merchants (SMMT). The second month of the yr can also be traditionally risky because of small volumes, as many operators delay acquisitions till the brand new quantity plate in March. Regardless of the worldwide scarcity of semiconductors and rising financial headwinds together with inflation, the market remained 14.6% above pre-pandemic ranges,1 reflecting continued demand from key sectors.

Newly registered massive vans, which signify two thirds of the LCV market, totalled 10,638 items, -9.9% down on final February, however medium-sized autos weighing larger than 2.0 tonnes to 2.5 tonnes, elevated by 36.9%. Small vans and pickups, decreased by -52.2% and -36.0% respectively, whereas excessive demand for 4x4s continued, growing by 49.0%, although this stays a fractional phase.

Demand for battery electrical vans grew by an distinctive 347.6% within the month with 1,741 items registered, primarily on account of some important fleet orders, which positively distorted what’s historically a low quantity month. General uptake nonetheless stays a ways behind passenger automobiles, nonetheless, and it’s important that funding in electrical automobile charging infrastructure offers confidence to companies and self-employed van operators throughout the UK to make the change.

Yr-to-date, LCV registrations are down by -18.2%, though that is in contrast with a robust begin to 2021, when the development and residential supply sectors had been important drivers of demand. SMMT forecasts the LCV market to develop 2.0% total in 2022, ending the yr simply shy of pre-pandemic ranges and indicating a stabilisation of the market.

Mike Hawes, SMMT Chief Govt, stated,

LCV registrations have had a barely slower begin in comparison with final yr’s bumper efficiency, reflecting the cyclical nature of fleet operator funding, however stay sturdy. International provide shortages and financial headwinds stay a problem, nonetheless, and the sector’s change to zero emission autos should change into mainstream. Extra electrified fashions are coming onto the market this yr however we’d like the chargepoint rollout to speed up, giving extra operators larger confidence to transition to the newest electrical vans.

1. February 2020 registrations: 14,103

SOURCE: SMMT

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