UK mild business automobile (LCV) registrations fell 6% to 16,165 models in February 2022 in contrast with the identical month final 12 months, when pent up demand noticed the market develop 22.0%, in keeping with the Society of Motor Producers and Merchants (SMMT).
The second month of the 12 months can also be traditionally unstable on account of small quantity as many operators delay acquisitions till the brand new quantity plate (22 this 12 months) in March.
Regardless of the worldwide scarcity of semiconductors and rising financial headwinds together with inflation, the market remained 14.6% above pre-pandemic ranges, reflecting continued demand from key sectors.
Newly registered giant vans, which account for 2 thirds of the LCV market, totalled 10,638 models, 9.9% down 12 months on 12 months, however medium sized autos weighing better than 2.0 tonnes to 2.5 tonnes, elevated 36.9%.
Small vans and pickups decreased by 52.2% and 36% respectively, whereas excessive demand for 4x4s continued, rising by 49%, although this stays a fractional phase.
Demand for battery electrical vans grew an distinctive 347.6% within the month with 1,741 models registered, primarily on account of some important fleet orders, which positively distorted the historically low quantity month.
General uptake nonetheless stays far behind passenger automobiles, nonetheless, and it’s important that funding in electrical automobile charging infrastructure offers confidence to companies and self-employed van operators throughout the UK to make the change.
12 months up to now, LCV registrations had been down 18.2%, though that is in contrast with a powerful begin to 2021, when the development and residential supply sectors had been important drivers of demand.
SMMT forecasts the LCV market to develop 2% total in 2022, ending the 12 months simply shy of pre-pandemic ranges and indicating a stabilisation of the market.
Mike Hawes, SMMT chief govt, stated, “LCV registrations have had a barely slower begin in comparison with final 12 months’s bumper efficiency, reflecting the cyclical nature of fleet operator funding, however stay robust. World provide shortages and financial headwinds stay a problem, nonetheless, and the sector’s change to zero emission autos should turn out to be mainstream. Extra electrified fashions are coming onto the market this 12 months however we want the chargepoint rollout to speed up, giving extra operators better confidence to transition to the newest electrical vans.”
