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UK's New Van Market Hits Three-Year High In April; Electric Shift Needs Acceleration
The UK's light commercial vehicle (LCV) market has witnessed a notable increase in demand, with a 5.4% rise in April, marking the 16th consecutive month of growth. This surge is largely attributed to fleet investments aimed at bolstering local trades and logistics, culminating in 23,889 new vans, 4x4s, and pickups being registered. This figure represents the highest April registration volume since 2021. The bulk of these registrations were for the largest LCV models, which weigh between 2.5 tonnes to 3.5 tonnes, accounting for 65.8% of the total. Additionally, medium-sized vans reported a 6.8% growth in deliveries, while the smallest vans saw the most significant percentage increase at 41.1%. Pick-up volumes also experienced a rise, increasing by 16.2%.
Despite the overall growth in LCV registrations, the demand for battery electric vans (BEVs) saw a decline of 42.4% compared to the previous year, with BEVs constituting just 3.6% of all new LCV registrations. This downturn underscores an urgent need for the acceleration of van chargepoint rollouts to bolster the BEV market's growth. The Society of Motor Manufacturers and Traders (SMMT) has provided an outlook suggesting that the UK's new van market is expected to grow by 3.3% to reach 353,000 units in 2024, with BEV market share anticipated to hit 8.3%. However, despite projections indicating a 44.1% increase in BEV volumes by 2024, these figures still fall short of the ambitious sales targets outlined in the Vehicle Emissions Trading Scheme (VETS).
The scarcity of suitable public charging infrastructure for vans is identified as a significant hurdle in adopting zero-emission fleet operations. To address this challenge and achieve decarbonization goals, a nationally planned and locally delivered chargepoint strategy is essential. This strategy should focus on identifying suitable locations for chargepoints and expediting grid connections. Additionally, maintaining the Plug-in Van Grant is crucial for supporting the transition towards electric vehicles.
The SMMT is calling on the government to take immediate action to deploy van-suitable public chargepoints across the country. Such measures are vital for encouraging the uptake of electric vans and advancing towards achieving environmental objectives.
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