Opinion: New LCV market update and used van performance for September

By Andy Picton, chief commercial vehicle editor at Glass’s

Registrations in the light commercial vehicle (LCV) market increased for the ninth consecutive month, with 44,760 new vehicles hitting the road in September – a 28.1% increase on twelve months ago.

Registrations year-to-date total 257,979 units, a 20.8% increase on 2022.

In one of the most popular months for registrations, September saw all sectors except those vans under 2 tonnes record sizeable increases.

The pickup sector recorded a 64.4% increase, vans between 2-2.5 tonnes rose by 89.1%, while those vans weighing between 2.5-3.5 tonnes, recorded a 13% rise in registrations.

The 29,150 units in the large van sector represented 65.2% of all new LCVs registered during the month.

Registrations in the vans under 2t sector were down by 13.4% in September versus September 2022 and down 31.1% year-to-date.

Three-quarters of the way through 2023 and Ford continue to dominate LCV registrations in the UK.

Three of the top five positions YTD are Ford product with the Transit Custom, Transit and Ranger in first, second and fourth places.

The monthly statistics for September replicate the top five positions, with Ford in first, second and fourth places.

The Stellantis Group saw the Vauxhall Vivaro finish in third, the Peugeot Expert ninth (1,589 units) and the Citroen Relay tenth (1,504 units).

The Volkswagen Transporter claimed fifth, the Renault Trafic sixth (2,075 units), the Mercedes-Benz Sprinter seventh (1,658 units) and the Toyota Hilux eighth registering 1,618 units.

Vauxhall led the way with electric LCV registrations. Their 1,282 units amounted to a 29.56% market share, with the Vivaro Electric accounting for 1,101 of those.

Ford sit in second place with 874 units registered (20.15% market share) and Nissan third with 439 units (10.12% market share).

Top five LCV registrations

 

YTD 2023		September 2023		September 2022
Ford Transit Custom	31,460	Ford Transit Custom	5,103	Ford Transit Custom	4,783
Ford Transit	21,683	Ford Transit	3,470	Ford Transit	3,630
Vauxhall Vivaro	14,930	Vauxhall Vivaro	3,086	Ford Ranger	2,660
Ford Ranger	13,935	Ford Ranger	3,031	Vauxhall Vivaro	2,396
Volkswagen Transporter	13,094	Volkswagen Transporter	2,385	Volkswagen Transporter	2,021

 

Battery electric vehicle registrations rose 85.9% to 2,882 units in September and now account for 6.4% of the overall market year-to-date, up 2% on the same point in 2022.

Year-to-date, BEV registrations have reached 14,296 units, a 25.9% increase on the 11,359 units registered to this point last year.

However, diesel vehicles still make up 92% of all LCVs registered this year, proof that much more work is needed if we are to abide by the 10% zero emission LCV sales laid out in the ZEV mandate for 2024.

These sales will come with confidence, not only in the vehicles capabilities, but in the supporting public infrastructure that must be suitable for vans of all shapes and sizes.

Used LCV market overview

With volumes of used vans entering the wholesale market increasing in September, the disparity between the best and worst examples and the highest and lowest values continues to widen.

Condition and mileage is key, particularly as repair times continue to extend. Euro 5 values in the South are starting to soften as businesses operating in the ULEZ look for compliant vehicles.

Used electric vans – and especially early examples – remain a hard sell on the open market, with values continuing to slide as a result.

September in detail

The volume of sales decreased 12.1% over the month with average sales prices rising by 12% over the same period.

Although a dramatic increase, this new price level was still 4.75% lower than September 2022.

Supporting these new price levels, the average age of all vehicles sold decreased by 8.1 months to 75.2 months and the average mileage fell by 5.6% to 76,954 miles.

This is 4.9% (3,999 miles) lower than 12 months ago.

More medium vans were sold at auction than any other vehicle type, accounting for 32.8% of all auction sales. Small vans accounted for 31.1% and large vans 23.9%.

Volumes of 4x4 stock sold accounted for only 11.5% of all sales, but attracted the strongest average sales prices of £15,877, up over £1,520 on August.

Large vans covered more distance than any other model type at an average of 89,840 miles, over 3,100 miles less than August.

First-time conversion rates for September rose by 3.1% to 75.8% overall and sat 0.1% higher than at the same point 12 months ago.

Broken down, the best conversion rates were seen in the large panel van sector at 77.9% (up 8.4% on August), whilst a conversion rate of 72% (up 1.2%) in the 4x4 pickup sector returned the lowest.

Used vehicles observed for sale in the wholesale market last month increased by nearly 4% to just over 41,200 units. 46.5% of all vehicles on sale were valued at £20,000 or more, while 35.5% were on sale for between £20,000 and £10,000.

At the lower end of the market, those vehicles on sale in the £10,000 to £5,000 price bracket made up 13.7% of the overall market, whilst 4.3% were on sale for less than £5,000.