Van registrations in the UK fell by 4.6% in October as semiconductor shortages continued to hamper supply.
A total of 27,420 vans were registered last month, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT).
It’s the second consecutive month of decline but represented a much smaller fall than the 39.5% recorded in September and is actually 2.3% up on the five-year pre-pandemic average for the month of October.
Performance among the market segments was mixed. Registrations of heavier vans fell by 8.9%, while pickups and vans weighing between 2.0-2.5 tonnes also declined by 16.9% and 16.6% respectively. But uptake of both new 4x4s and vans weighing 2.0 tonnes or under doubled by 114.7% and 100.5% respectively in October, the former buoyed by new models.
Year-to-date, the new van market is up 24.4% but remains 5.2% off the five-year pre-pandemic average, primarily due to the global shortage of semiconductors.
As a result, the SMMT has downgraded its outlook for the LCV market by more than 20,000 units, with a total of 340,000 LCVs expected to be registered in 2021. This is up on 2020 but down against 2019 sales and the market is not expected to recover back above that level until 2023.
Mike Hawes, SMMT chief executive, said: “While it’s disappointing to see the number of new vans registered during October decline, demand has remained strong over the course of the year. The commercial vehicle sector, however, is not immune to the challenges faced by the industry as a whole, most notably the semiconductor shortage.
“Manufacturers are working hard to fulfil orders to ensure fleets can continue to be renewed and the latest models, including zero-emission products, hit UK roads.”
