Van Sales Soar in March 2024
- In March, 52,916 pickups, 4x4s, and vans were registered
- The SMMT reported an increase of 11.1% over last year
- The van sector had its best first quarter in three years
The SMMT have recently reported that more than 50,000 new LCVs were added to UK roads in the month of March.
Businesses upgraded to the very latest models more than in any other month during the last three years, according to the trade association.
As Brits increasingly depend on vans for everything from online shopping to local trades, 52,916 new vans, 4x4s and pickups were registered – up 11.1% from last year. A total of 56,122 units were registered in March 2021.
A record 94,812 vans were registered in the first quarter of 2024, versus 97,356 in the first quarter of 2021, with volumes now only 7.7% below 2019’s 102,743 units.
In addition, the SMMT said registrations of models weighing 2.5 tons to 3.5 tons increased 16.1% to 35,592, representing more than two-thirds of the market.
Vans weighing less than 2 tonnes accounted for the greatest percentage increase in uptake. Demand for these rose 44.8% to 986 units, while medium-sized vans fell by 3.6% to 8,939 units.
Compared to last year, pickup sales increased by 0.1% to 5,767, while 4×4 sales grew by 29.1% to 1,632.
Battery-electric vans (BEVs) continue to gain popularity as new fleet registrations rise – up 14.7% to 2,906 units last month.
March 2024 had more BEV registrations than December 2023, with 2,964 units.
It means the very greenest vans comprised 5.5% of the entire LCV market, but that was up only slightly from 5.3% in March last year.
With manufacturers now mandated to achieve increasingly ambitious proportions of zero emission sales – 10% of manufacturers’ new LCV sales have to be zero emission this year – the SMMT is urging swift action to improve the confidence of operators large and small plus the self-employed to switch to the growing range of BEV models.
It said maintaining existing incentives was essential, but urgent action was also required to address some businesses’ concerns.
A major part of this is increasing van-compatible public infrastructure across the UK, from motorways to residential streets, so operators are confident that they can charge wherever and whenever they want.
It also highlighted the disparity between the cost of VAT on public charging and that of private or home charging – four times the difference – and said this was a barrier to firms wanting to switch to a net zero fleet, which is essential if the UK is to achieve its world-leading net zero market.
SMMT chief executive, Mike Hawes said: “A strong new plate month with the greatest number of zero-emission vans joining UK roads is a bellwether of the sector’s progress, cutting emissions while keeping British businesses on the move.”
“Industry is ready to deliver further, but with green uptake still below mandated levels, swift action is needed to give new van buyers the confidence to go electric.”
“Rapid delivery of van-suitable public charging points and removing the hurdle of taxation on their use are key to greener fleets and a greener future.”
March’s best-selling LCV was the Ford Transit Custom, followed by its Transit stablemate with 4,864 and the Blue Oval’s Ranger with 2,881.
The Volkswagen Transporter took fourth place (2,773), the Mercedes-Benz Sprinter took fifth (2,089), and the Vauxhall Vivaro took sixth (1,977).
Finally, the Ford Transit Connect (1,959), Renault Trafic, pictured (1,903), Citroen Berlingo (1,876) and Toyota Hilux (1,711) completed the top 10.
Business van finance will always play an important role in allowing companies to update their fleets with competitive funding options and First Oak Capital funded their fair share of vans in March with some of the lowest rates seen for some time.
If your company would like a quote for their next purchase please get in touch with our experienced team of finance brokers who can connect you with the best lenders and rates available in the market.
