By Andy Picton, chief commercial vehicle editor, Glass’s (part of Autovista Group)

The new light commercial vehicle (LCV) market grew for the fourth consecutive month in April, rising by 4.9% to 22,665 units. The year continues positively for the UK’s LCV market, with 109,937 units registered during the first third of the year, a 14.6% increase on twelve months ago.

Registration performance in April was mixed. Pickup, Vans under 2.0t and Vans between 2.5 and 3.5 tonne gross vehicle weight (GVW) sectors fell by -7.6%, -48.2% and -6.2% respectively – although the latter at 15,205 units remained the largest with a 67.1% market share. Registrations in the Vans between 2.0 and 2.5 tonnes GVW sector more than doubled achieving a 103.5% increase (4,318 units), whilst the 4x4 sector rose by 370.5% (574 units).

Ford continued their dominance in the UK market, with the Transit Custom and Transit retaining first and second positions and Ranger placing in fifth. The Stellantis Group saw the Vauxhall Vivaro finish in third spot, the Citroen Berlingo in fourth, Peugeot Partner seventh (1,041 units) and Peugeot Expert in tenth with 884 units registered. The Mercedes-Benz Sprinter claimed sixth spot with 1,046 units, the Renault Trafic eighth (996 units) and the Volkswagen Transporter ninth (949 units).

Top five LCV registrations

YTD 2023		April 2023		April 2022
Ford Transit Custom	13,912	Ford Transit Custom	2,295	Ford Transit Custom	3,357
Ford Transit	8,564	Ford Transit	1,792	Ford Transit	2,987
Ford Ranger	6,121	Vauxhall Vivaro	1,462	Vauxhall Vivaro	1,468
Vauxhall Vivaro	6,096	Citroen Berlingo	1,273	Citroen Relay	1,123
Volkswagen Transporter	5,689	Ford Ranger	1,054	Ford Ranger	1,088

 

Registrations showed growth in April with figures only 13.7% down on 2019 pre-pandemic levels. This scene needs some perspective and is set against a particularly poor April last year when protracted raw material and supply chain shortages hindered production and deliveries.

Despite the rise in demand and a more normalised production schedule, some challenges will remain for a while yet. These will ease as we move towards the end of year with a full recovery expected in 2024.

There was a sizeable 62.6% increase in battery-electric van registrations for April, with 1,494 units registered, up 575 units on twelve months ago.

Year-to-date, BEV registrations are 14.8% up on twelve months ago (5,987 units), with a market share of 5.4% (5.4% 2022). Expectation is for further growth in 2023 however, to achieve the 28,000 unit target, a dedicated LCV-suitable charging network must be implemented.

The Zero Emission Mandate is due to come into force at the beginning of next year meaning there must be a rapid increase in the sale of battery electric vans and the infrastructure to support them.

Used LCV market overview

Following a really strong first quarter to 2023, there are definite signs of the market softening.

Traders who bought well during those first three months of the year, are now easing back preferring to sell some stock before they buy again.

Demand for the nicest stock has seen average prices increase again, but conversion rates are down to their lowest level since the beginning of the year.

April in detail

Sales have decreased by nearly 19% versus March, but are 15% higher than at the same point twelve months ago when the market was suffering during the worst of the shortages.

Average sales prices have increased by 0.55% during April but sit nearly 1.9% below April 2022.

As with previous months, the used medium van sector was the most popular. These models accounted for 35.1% of all auction sales, while 4x4 stock was again the least popular (16%) but attracted the strongest average sales prices of £14,933, up £130 on March.

The average age of vehicles sold during April increased by 0.1 months to 82.1 months, with the average mileage of those vehicles sold falling by 2.05% to 82,818 miles.

This is just over 1,100 miles higher than 12 months ago. Large panel vans unsurprisingly covered more distance than any other model type, averaging 89,429 miles, a 4,150-mile reduction on March.

First-time conversion rates for April fell 1.5% to 81% overall, but still remained 10.2% higher than 12 months ago.

All segments recorded a decrease, with the Small van sector returning the best conversion rate of 83.8% (down 2.3% on March). Medium vans recorded no change at 81.8%, 4x4 pickups 78.0% (down 5%) and large panel vans 76.3% (down 0.1%).

Used vehicles observed for sale in the wholesale market last month rose sharply by 5.1% to nearly 41,200 units. 51.0% of all vehicles on sale were valued at £20,000 or more, while 33.0% were on sale for between £20,000 and £10,000.

At the lower end of the market, 11.8% of all vehicles were on sale for between £10,000 and £5,000. Those on sale for less than £5,000 remained static at 4.2% of the overall market.