UK van market falls in traditionally slow February

United kingdom mild industrial motor vehicle (LCV) registrations fell 6% to 16,165 models in February 2022 in contrast with the very same month past year, when pent up need saw the sector increase 22.%, in accordance to the Modern society of Motor Suppliers and Traders (SMMT).

The 2nd month of the calendar year is also historically volatile due to tiny volume as lots of operators delay acquisitions till the new number plate (22 this calendar year) in March.

In spite of the global shortage of semiconductors and mounting economic headwinds like inflation, the marketplace remained 14.6% higher than pre-pandemic ranges, reflecting continued desire from critical sectors.

Freshly registered significant vans, which account for two thirds of the LCV sector, totalled 10,638 models, 9.9% down year on calendar year, but medium sized vehicles weighing better than 2. tonnes to 2.5 tonnes, increased 36.9%.

Tiny vans and pickups reduced by 52.2% and 36% respectively, when high need for 4x4s ongoing, escalating by 49%, while this continues to be a fractional segment.

Demand from customers for battery electric vans grew an extraordinary 347.6% in the month with 1,741 models registered, mainly as a consequence of some significant fleet orders, which positively distorted the ordinarily small quantity month.

Total uptake still continues to be some length driving passenger cars and trucks, however, and it is crucial that investment in electrical car charging infrastructure presents self-assurance to companies and self-utilized van operators throughout the British isles to make the switch.

Calendar year to day, LCV registrations ended up down 18.2%, despite the fact that this is in contrast with a sturdy get started to 2021, when the design and home supply sectors were sizeable drivers of demand from customers.

SMMT forecasts the LCV market to grow 2% overall in 2022, ending the yr just shy of pre-pandemic amounts and indicating a stabilisation of the marketplace.

Mike Hawes, SMMT chief govt, reported, “LCV registrations have had a a bit slower start out compared to previous year’s bumper general performance, reflecting the cyclical nature of fleet operator financial commitment, but continue being potent. Worldwide source shortages and financial headwinds continue to be a obstacle, even so, and the sector’s switch to zero emission autos must come to be mainstream. More electrified designs are coming on to the market place this calendar year but we need the chargepoint rollout to accelerate, supplying extra operators higher self confidence to transition to the most recent electric vans.”