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Daily Newsletter

06 December 2023

Daily Newsletter

06 December 2023

UK LCV sales up again

YTD 2023 has seen 11 consecutive months of rising demand

Graeme Roberts December 05 2023

The UK new light commercial vehicle (LCV) market grew 12.7% in November to 27,433 units, according to the Society of Motor Manufacturers and Traders (SMMT).

The result was 4.6% above the pre-pandemic 2019 level and after 11 consecutive months of rising demand to 311,754 units year to date, the largest volume for two years as product availability continued to improve.

Medium van sales rose 161.1% to 4,554 units while rising registrations of 4x4s and pickups continued, up 6.5% and 14.9% respectively to 589 units and 3,783.

Volume of the largest van models, those weighing greater than 2.5 tonnes to 3.5 tonnes dipped 1.6& to 18,070 units while small van registrations grew 10.4% to 437.

Battery electric van (BEV) registrations fell for a second month as 1,631 units were registered, 343 fewer than a year ago but registrations were up 15% YTD to 17,289.

APAC leads the Connected Vehicle Technologies market in 2023

Consumer demand for features like connected services, in-car infotainment, and ADAS has accelerated the development of connected vehicle technologies. APAC nations have made significant investments in enhancing their digital infrastructure, including the rollout of 5G networks, to provide dependable and quick communication between vehicles and the surrounding infrastructure.

Smart parking market expected to grow at a CAGR of 13.2% by 2030

Urbanization and population growth are the major drivers of the smart parking market as they have a significant impact on parking demand, traffic congestion, and the need for efficient urban infrastructure. Smart parking systems assist in optimizing the use of current parking facilities by providing real-time information on available spaces and decreasing the time and effort spent looking for parking.

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