The UK light commercial vehicle (LCV) market has reported its second-best November on record, with new van registrations rising 10.5% to 30,300 units, according to the Society of Motor Manufacturers and Traders (SMMT).
Source: SMMT
The November figures reveal a robust performance across different van weight classes, with small vans experiencing the most dramatic growth. Small van volumes surged 128.6% to 999 units, while medium vans increased by 9.8% to 4,999 units. Large vans also saw a significant rise of 13.5%, with 20,504 units reaching the road.
Source: SMMT
Electric vehicles and market challenges
Electric van sales showed promising growth, increasing by 36.7% to 2,322 units, and market share rising from 6.1% to 7.7%. However, the industry faces challenges in meeting the government’s zero-emission targets. Despite half of all van models now available as zero-emission vehicles, the annual market share has slightly decreased from 5.9% to 5.8% compared to the previous year.
Source: SMMT
Pick-up market faces uncertainty
The report highlighted a decline in pick-up truck registrations, which fell by 20.4% to 3,012 units. The upcoming tax changes in April 2025, which will tax double-cab pick-ups as cars for benefit in kind and capital allowances, have raised concerns among businesses in sectors like construction, farming, and utilities.
SMMT calling for review of market regulations
The SMMT is calling for a review of market regulations to ensure manufacturers can deliver the necessary choice, growth, and decarbonisation for the nation.
The latest market outlook predicts a volume growth of over 85% in 2025, which would still only bring battery electric vehicle (BEV) market share to 10.6% – short of the 16% target.
“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,” said SMMT Chief Mike Hawes.