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According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
The UK light commercial vehicle (LCV) market declined in March by -27.6% to 40,613 units, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT).
The scale of the fall is amplified by comparison with March last year, when pent-up demand contributed to the largest increase in LCV registrations since 1999.
March is conventionally a bumper period due to the introduction of the new bi-annual number plate, with more LCVs registered last month than January and February combined. However, supply and delivery issues continue to hamper the sector, including the global shortage of semiconductors and those affecting construction, logistics and shipping, with the March market -38.6% down on pre-pandemic 2019.2 Meanwhile, the cyclical process of LCV fleet renewal has contributed naturally to a slower first quarter this year, following a period of robust post-pandemic recovery in 2021.
Newly registered large vans – which represent more than two thirds of the LCV market – totalled 29,230 units, -18.9% down on March last year, while medium-sized vehicles weighing greater than 2-2.5 tonnes declined by -27.6%. Small vans, meanwhile, decreased by -70.8% and pickups by -48.4%. Recent high year-on-year demand for 4x4s also slowed, decreasing by -33.3%. Read more
Source: LOGISTICS MANAGER
