Van market falls by 15% in October

The decline follows a robust September market and reflects a contraction in fleet renewal across 2025, down 10.2% to 264,160 units in the year to date, amid weak business confidence and a tough economic environment.

Declines were recorded across all van sizes during the month, with volumes of the largest LCVs down 7.0% to 16,443 units but still representing the majority (71.8%) of the overall market. Registrations of new medium- and small-sized vans also fell, by 41.2% and 23.4% to 3,347 and 523 units respectively. There was growth in the smaller volume 4x4 segment, with registrations up 88.0% to 440 units. Demand for new pickups, however, declined by 20.2% to 2,143 units, reflecting the impact of new fiscal measures to treat double cabs as cars for benefit in kind and capital allowance purposes.

Volumes of new battery electric vans (BEVs) also declined for the first time 13 months, by 5.8% to 2,132 units, although the BEV market share edged up to 9.2%, given the overall market’s steeper contraction. In the year to date, BEV volumes have increased by almost half (47.4%) to 24,250 units – significant growth bucking the trend of overall market decline thanks to manufacturers investing heavily in new model rollouts. Still, however, BEVs represent just 9.1% of all new registrations in 2025 – well below the 16% share mandated which rises to 24% in 2026.

Mike Hawes, SMMT chief executive, said: “While October’s decline is unsurprising amid the intense economic pressure facing businesses, returning the van market to growth is essential – especially to underpin new investment in zero emission models, which until now had bucked wider trends. Every lever must be pulled to get the market back on track and transitioned at mandated levels. Accelerating infrastructure rollout and grid connections, in particular, will help ensure government targets are not just an aspiration but are actually deliverable for manufacturers and operators alike.”