CV sales surge as electric vehicles experience significant increase

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【Summary】UK light commercial vehicle registrations grew by 44.2% in July, the best July since 2020. Demand for new vans, pickups, and 4x4s increased, and supply chain issues eased. Battery electric vans saw a 94.6% increase in registrations, with a market share of 5.5%. The challenge now is to increase EV uptake by reducing energy costs and improving charging infrastructure.

FutureCar Staff Aug 17, 2023 10:13 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 total number of registered LCVs increased by 44.2% to reach 26,990 units, making it the best July since 2020, according to the Society of Motor Manufacturers and Traders (SMMT).

This growth in registrations is not only a positive sign for the industry but also indicates a recovery from the impact of the pandemic. In fact, registrations in July were up by 4.4% compared to the pre-pandemic volumes of 2019. This increase 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.

One notable trend in the commercial vehicle market is the growing demand for zero-emission vehicles. Battery electric vans (BEVs) saw a significant surge in registrations, with a 94.6% increase to 1,489 units in July. This translates to a market share of 5.5%, up from 4.1% the previous year. In total, 10,292 BEVs have been registered so far in 2023, marking a 16.1% year-on-year increase. 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) adoption in the commercial vehicle sector. He emphasized the importance of addressing soaring energy costs and expanding the provision of dedicated van charging infrastructure to boost operator confidence. These measures are essential to meet the unique needs of the sector and overcome the challenges ahead, especially with the upcoming ZEV mandate that will introduce minimum sales targets for every brand in the following year.