CV sales surge as electric vehicles experience significant increase

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【Summary】UK light commercial vehicle (LCV) sales in July increased by 44.2% compared to last year, marking the best July since 2020. Demand for new vans, pickups, and 4x4s rose, contributing to the growth. Additionally, there was a significant rise in the registration of battery electric vans (BEVs), with a 94.6% increase to 1,489 units. However, the market share of BEVs decreased slightly from 5.4% to 5.2% in the year to date.

FutureCar Staff Aug 14, 2023 10:11 AM PT

CV sales surge as electric vehicles experience significant increase

The number of light commercial vehicles (LCV) registered in the UK continued to rise in July, marking the seventh consecutive month of growth. The registrations increased by 44.2% to reach a total of 26,990 units, making it the best July since 2020, according to the Society of Motor Manufacturers and Traders (SMMT).

This increase in registrations can be attributed to the rising demand for new vans, pickups, and 4x4s, as well as the easing of supply chain issues that had previously constrained production. In fact, registrations were also up 4.4% compared to pre-pandemic 2019 volumes.

One notable trend in the commercial vehicle market is the growing demand for zero emission vehicles. Battery electric vans (BEVs) saw a significant increase of 94.6% in July, reaching a total of 1,489 units and capturing a market share of 5.5%. This is a notable increase from last year's market share of 4.1%. In total, 10,292 BEVs have been registered so far in 2023, marking a year-on-year increase of 16.1%. However, the market share for BEVs has slightly decreased from 5.4% to 5.2% in the year to date.

Mike Hawes, the Chief Executive of SMMT, highlighted the need for greater electric vehicle (EV) uptake. He emphasized the importance of reducing soaring energy costs and increasing the provision of dedicated van charging infrastructure to boost operator confidence and meet the unique needs of the commercial vehicle sector. These challenges are even more crucial as next year will see the implementation of a Zero Emission Vehicle (ZEV) mandate with minimum sales targets for every brand.