The UK new LCV market saw registrations fall by 3.4% year-on-year in March, according to data from the Society of Motor Manufacturers and Traders (SMMT).
The total of 49,505 new LCVs registered represented the weakest March since 2023, which the SMMT said was disappointing given the importance of the number plate change month.
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The picture of decline was not universal, with the market-leading 2.5-3.5 tonne van segment up by 8.7% year-on-year to 34,805 registrations, 2.0-2.5 tonne vans up by 2.3% to 8,365, and 4x4s up by 41.3% to 1,871.
However, registrations of vans weighing less than 2.0 tonnes were down by 53.8%, to 732, while pick-up registrations – to which the SMMT chiefly attributed the overall market decline – were down by 54% to 3,732. The SMMT said the market was still feeling the effects of last year’s change to benefit-in-kind tax rules for double-cab pick-ups.
Electric LCV registrations concern
The SMMT also said it was concerned by a drop in electric van registrations, which fell by 15.9% year-on-year in March, giving the vehicles a 7.1% market share – the weakest since September 2024. The organisation pointed out that the year-to-date new LCV market share for EVs of 9% was just over a third of that required by the UK Government’s ZEV mandate.
Mike Hawes, chief executive of the SMMT, said: “A weak March is deeply concerning given this number plate change month often sets the tone for the year. Moreover, with fleet renewal now having contracted in 14 of the past 16 months, it reflects poorly on overall business confidence.
“A thriving market is essential not just to economic growth but to decarbonisation, and it is increasingly alarming to see BEV demand waning when it must accelerate to reach ever-tougher mandated levels.
“With the transition already falling behind schedule, a holistic review of the transition is urgently needed.”
Land Rover Defender enters LCV registrations top ten
Regular market leader the Ford Transit Custom was by far the UK’s most-registered new LCV in March, with its 7,715 registrations more than double that of the second-placed Ford Transit, with 3,667.
A perhaps less predictable presence in March’s new LCV top ten was that of the Land Rover Defender, which achieved ninth place with 1,473 LCV registrations.
