Van registrations fall sharply
The UK new light commercial vehicle market made a weak start to 2026, with registrations down 7.8% in January to 17,562 units, according to the Society of Motor Manufacturers and Traders (SMMT). It marks the lowest January total since 2012, reflecting subdued business confidence and constrained fleet investment.
The headline decline was driven by a 57.0% collapse in pickup registrations to 1,206 units, following fiscal changes reclassifying double-cab pickups for benefit-in-kind and capital allowance purposes. Medium vans also fell 27.4% to 2,547, while small vans dropped 39.8%. Only large vans (+10.0% to 12,696) and 4x4s (+33.9% to 711) recorded growth.
Electric uptake grows, but not fast enough
Battery electric van demand rose 26.0% to 1,844 units, delivering a 10.4% market share. However, this remains well short of the 24% mandated target for 2026, despite more than half of all van models now available as EVs and widespread discounting.
Outlook softens
The full-year LCV outlook has been revised down to 321,000 units, from 335,000, while the BEV share forecast has slipped to 13.1%.
Mike Hawes, SMMT Chief Executive, said the figures show “ongoing economic and fiscal conditions which are limiting demand,” adding that meeting EV ambitions amid a contracting market is “coming at huge cost to industry.”