Eight months of decline for brand spanking new LCV registrations

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The business automobile sector has suffered its eight month of decline, as August’s registration figures have been 24.6% down.

A complete of 15,520 models have been bought, throughout what’s historically one of many quietest months of the 12 months forward of the September plate change, in keeping with the Society of Motor Producers and Merchants (SMMT).

In distinction, the passenger car figures for August showed signs of recovery for the UK’s automotive sector with a 1.2% rise in registrations.

The dimensions of the decline within the LCV marker is artificially inflated as compared with final 12 months, in keeping with the SMMT, which mentioned August 2021 was the second-best efficiency on report for the reason that introduction of the two-plate system.

For 2022, nonetheless, world provide chain challenges have acted as a “handbrake” on registrations, albeit the impression has been inconsistently distributed throughout automobile segments. The SMMT mentioned rising financial headwinds are additionally a priority.

Each LCV class recorded a decline. The largest decline was recorded in pick-ups, which noticed registrations fall by 52.2%.

SMMT van registrations Aug 22 by fuelBattery electrical automobile (BEV) registrations rose by 14.7% to succeed in a 6.1% market share (from 4.0% a 12 months in the past) as extra consumers benefit from buy incentives, decrease taxation, exemptions from congestion and clear air zone fees in city areas.

As operators select to delay the acquisition of latest autos till the ‘new plate month’ in September, subsequent month can be essential for the business struggling to repeat the success it noticed in 2021. 12 months to this point, LCV registrations are down by 24.2% on 2021 and 27.2% down on pre-pandemic 2019.

Mike Hawes, SMMT chief govt, mentioned, “Final 12 months’s bumper LCV market meant it was at all times going to be difficult to repeat that success in 2022, and more and more sturdy financial headwinds and provide chain challenges proceed to check the market. Good progress is being made within the transition to electrical, however accelerating the swap will want motion from the brand new Prime Minister to deal with power prices and inflation, whereas additionally encouraging higher charging infrastructure rollout, so that companies can have higher confidence to improve their van fleets to cleanest, greenest fashions.”

Used van values continue to climb, in the meantime, with common costs passing the £10,000 mark for the primary time in July, in keeping with BCA.

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