Britain’s new light commercial vehicle (LCV) market grew by 13% in November as 27,433 vans, pickups and 4x4s joined Britain’s fleets, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
The performance is 5% above pre-pandemic levels and represents 11 consecutive months of rising demand, totalling 311,754 units. This marks the largest volume for two years as product availability continues to improve.
The greatest volume growth was delivered via medium-sized vans, more than doubling to 4,554 units. Rising registrations of 4x4s and pickups also continued, up 7% and 15% respectively to 589 units and 3,783 units. New LCV buyers continue to show preference for payload and fuel efficiencies, however, with the largest van models – those weighing greater than 2.5 tonnes to 3.5 tonnes – representing 18,070 units and 66% of the market.
Battery electric van (BEV) registrations fell for the second month, as 1,631 units were registered. The broader trend remains positive with BEV registrations up 15% since January. 17,289 BEVs have joined UK roads in 2023, accounting for almost one in 18 new vans registered across the year.
The UK new car market grew by 10% in November to reach 156,525 units. In the market’s best November for four years, registrations almost returned to pre-pandemic levels, down just 96 units on 2019.
Growth was driven entirely by fleets investing in the latest vehicles, with registrations rising 25% to account for 93,049 units and 59% of the market. Private demand fell -6% to 60,506 registrations, while business uptake fell -33% to 2,970 units. Year to date, however, the overall market remains up 19% at 1.762 million units. A return to growth in the corporate market is fuelling a recovery that has been underway for 16 months.
November proved a strong month for both hybrid electric vehicles (HEVs) and plug-in hybrid vehicles (PHEVs), rising by 28% and 56% respectively. Of the 24,359 new BEVs reaching the road in November, 77% were taken on by fleets and businesses. While overall BEV volumes fell by -17%, leading to a reduced market share of 16%, last November was atypical with significant deliveries following supply chain disruptions. Year to date, BEV uptake is up 28% with a 16% market share – expected to rise to 22% next year.
