The new light commercial vehicle (LCV) market recorded its fourth consecutive month of growth as registrations rose by 10.5% in November, according to the Society of Motor Manufacturers and Traders (SMMT).
It was the second biggest November recorded in the history of the LCV market, with 30,300 new vans, pick-ups and 4x4s registered.
Mike Hawes, SMMT Chief Executive, said: “The UK light commercial vehicle market continues to build back after a challenging start to the year, delivering the best performance since 2021 and the unleashing of pent-up demand.
“Britain’s appetite for zero emission vans continues to lag behind government ambition, however, and market share this year is heading in the wrong direction.
“With warnings over UK competitiveness now translating into tangible impacts, a fast-tracked review of market regulation is essential to ensure manufacturers can deliver the choice, growth and decarbonisation the nation needs.”
Small van volumes were up 128.6% to 999 units, medium vans rose by 9.8% to 4,999 units, and large van volumes increased by 13.5% to 20,504 units.
Registrations of 4x4s increased by 33.4% to 786 units, but pick-up registrations fell by -20.4% to 3,012 units.
Double-cab pick-ups are to be taxed as cars for benefit in kind and capital allowances purposes after April 2025. Businesses that rely on these vehicles, such as Construction, farming, utilities businesses and the self-employed will face further cost pressure.
Electric van uptake grew for the second consecutive month after four months of decline, rising by 36.7% to 2,322 units. The Plug-in Van Grant will continue for the next financial year.
Although market share rose from 6.1% to 7.7%, government has mandated that 10% of each brand’s new van registrations must be zero emission this year. Year-to-date market share has slightly declined compared with 2023, from 5.9% to 5.8%.
The latest market outlook expects volume growth of more than 85% in 2025.
