Latest news with #Plug-inVanGrant
Yahoo
08-04-2025
- Automotive
- Yahoo
UK van market declines for fourth straight month, reports SMMT
The UK market for new light commercial vehicles (LCVs) experienced a decline for the fourth consecutive month in March 2025, with deliveries down by 3.2%. According to the Society of Motor Manufacturers and Traders (SMMT), 51,221 vans, 4×4s, and pick-ups were registered. The trade body attributed the decline to weak business confidence impacting investment in new models. The largest vans saw a 10% decrease in registrations, with 32,025 units accounting for 62.5% of the market. Medium-sized vans and 4×4s also reported declines of 8.5% and 18.9%, respectively. However, demand for smaller vans increased for the 13th month, soaring by 60.8% to 1,585 units, capturing 3.1% of the market. In addition, pick-up registrations surged by 40.6% in March, with 8,107 units joining UK roads. This increase is driven by businesses investing in these vehicles ahead of fiscal measures affecting double-cabs, which will be treated as cars for benefit-in-kind and capital allowance purposes from April. The SMMT urged the UK Government to delay these fiscal measures for at least one year, citing potential negative impacts on sectors contributing to economic growth. These measures could deter investment, keeping older, more polluting vehicles on the road and reducing tax revenues. Despite these challenges, demand for battery-electric vans (BEVs) weighing up to 4.25t grew for the sixth consecutive month, with a 40.3% increase to 4,215 units. BEVs now represent 8.3% of the market in the first quarter of 2025, thanks to significant manufacturer investment. The Plug-in Van Grant remains crucial in supporting BEV uptake, though current levels are below the government's 16% zero-emission market share mandate for 2025, the SMMT said. To achieve this target, urgent action is needed to enhance LCV infrastructure and implement effective regulations. SMMT CEO Mike Hawes said: 'Vans, pick-ups and 4×4s are critical for business operations across the UK so four months of falling investment is concerning and reflects weak confidence, with further constraints set to impact the pick-up segment. 'It is positive, however, that electric uptake continues to rise thanks to growing model choice. Even so, with demand still well below 2025 ambitions, suitably bold plans for infrastructure rollout and workable regulation are needed to grow operator confidence and the investment that is needed.' In contrast, the UK's new car market saw a 12.4% growth last month with 357,103 units, marking the best March performance since 2019. "UK van market declines for fourth straight month, reports SMMT" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
20-03-2025
- Automotive
- Yahoo
Citroen e-C3 to gain £15k van variant with 200-mile range
ë-C3 van will have its rear seats and seatbelt points removed and a mesh bulkhead added Citroën hopes to spark a revival of the small car-based van segment by launching a £15,000 ë-C3 electric van. The commercial variant of its new entry-level electric car is due in April, with a likely starting price of £15,035 excluding VAT but inclusive of the UK's Plug-in Van Grant. It will be built to N1 classification. Only the Dacia Spring Cargo will be cheaper, at £14,995 excluding VAT, yet the ë-C3 van will have a longer range. It will be based on the larger-battery (44kWh) version of the ë-C3 with 200-miles of range (one mile more than the car, due to a marginally lower weight) and charging speeds of up to 100kW. Power comes from a 111bhp electric motor. Citroën UK boss Greg Taylor told Autocar that the brand 'can see a niche' for the appeal of such a model. 'Ford used to sell thousands of Fiesta vans,' he said. 'Part of our goal is to reinvigorate that segment, and we're excited to start with this.' The ë-C3 van is designed to appeal for last-mile deliveries and short-distance journeys and for businesses that don't need a larger van. 'It's gone to tenders and there are use cases," said Taylor. "There are people who don't need a Berlingo and it can give something that the market can't offer at the moment.' The new van will have the rear seats and seatbelt points removed and have a mesh bulkhead installed. It will have 1.3 square metres of load space. Otherwise, it will come with all of the features of the car on which it is based, including the Advanced Comfort front seats and suspension. It's part of a wider push from Citroën to launch a range of affordable EVs. The firm already has five EVs available for less than £30,000, including the ë-C4 and ë-C4 X, which have had their prices cut to coincide with their facelifts to start from £26,295 and £27,360 respectively. The Ami, ë-C3 and upcoming ë-C3 Aircross complete the five. Citroën is also in the process of developing an eight-year warranty to roll out across its entire model range. Taylor said the finer details and launch date were still being worked on but the brand sees it as a way of retaining aftersales and servicing within its network; and keeping in touch with buyers of new vehicles for longer and with people buying its cars used. Taylor said it isn't a reactionary move but rather one to allow Citroën to maintain its 'upward trajectory', particularly at the moment, when it's in the process of refreshing its entire model range. ]]>
Yahoo
12-03-2025
- Automotive
- Yahoo
UK Electric Van Market Grows Amid Challenges in the Wider LCV Sector
The demand for electric vans in the United Kingdom is surging, driven by government incentives and a transition toward zero-emission commercial vehicles. The U.K. government's extension of the Plug-in Van Grant has significantly lowered upfront costs, making electric vans more affordable to small and medium-sized enterprises (SMEs) in logistics, delivery and trade industries. Per in the forefront of this shift are models like Volkswagen's VWAGY ID. Buzz, Nissan Motor Co.'s NSANY Townstar and Renault Kangoo, accounting for 75% of all electric van enquiries in 2024. Further highlighting the increasing interest in electric alternatives, electric vans made up an impressive 70% of the top 10 most inquired-about models. However, despite the rising interest, electric vans still fall short of the U.K. government's zero-emission vehicle mandate, which requires 16% of all new van sales to be electric by 2025. According to the latest data from the Society of Motor Manufacturers and Traders, sales of electric vans weighing up to 4.25 tonnes grew for the fifth consecutive month in February 2025, with year-over-year registrations up 55.1% to 1,413 units. However, with a market share of just 9.7%, the segment still has much room to grow. While electric vans are being widely adopted, the broader light commercial vehicle (LCV) market is experiencing significant headwinds. Overall, the demand for new LCVs declined 19.3% in February, marking the third consecutive month of decline. The month has seen the lowest market outturn since 2020, raising concerns about the long-term stability of this sector. Several factors are contributing to this fall. The primary driver is economic uncertainty, which is leading businesses to delay vehicle purchases and investments. High interest rates and inflationary pressures are also making vehicle financing more expensive, making them out of reach for several buyers. Furthermore, diesel van demand has declined 24% in 2024, highlighting the market's shift toward green alternatives. Ford Motor's F Ranger was the most in-demand van in the country, representing 18% of all enquiries per but its demand dropped 64% from the prior year, when it held a 50% share. Nevertheless, businesses are still somewhat hesitant to transition completely to electric due to the challenges in infrastructure. The United Kingdom's charging network, especially for commercial vehicles, is still inadequate, with insufficient roadside charging points to support widespread commercial EV electrification. As of Jan. 1, 2025, the United Kingdom has 73,334 public EV charging devices available. Despite the government mandates and grants, the adoption of electric vans is expected to slowdown in the United Kingdom in 2025, owning to the sweeping American tariffs on auto imports from countries like Canada, Mexico and China, which will inevitably impact the global auto supply chain, delay manufacturing and increase costs for electric vans as well. However, with government support, tax incentives and increasing availability of models, businesses will gradually make the switch in the longer term. Leasing has emerged as a popular solution, helping companies make the transition with lower financial risk. But for electric vans to reach their full potential, it is important that infrastructural improvements be made to meet the growing demand. At the same time, the overall LCV market faces a more uncertain future. While traditional combustion engine sales continue to decline, the shift to electric is not happening fast enough to offset the overall market slowdown. The United Kingdom's commercial vehicle market is at a crucial juncture. While the adoption of electric vans is growing, sustained success of the industry depends on continued policy support, technological innovation and improvement in the charging network infrastructure. If these issues are addressed effectively, electric vans may redefine commercial transport in the United Kingdom, paving the way for a cleaner and more sustainable future. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F) : Free Stock Analysis Report Nissan Motor Co. (NSANY) : Free Stock Analysis Report Volkswagen AG Unsponsored ADR (VWAGY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
