Market shifts towards light commercials
Light commercials have accounted for more than a quarter of new vehicle registrations in the year-to-date, according to the latest Motor Industry Association (MIA) statistics.
Figures for November show there were 12,170 new vehicle sales last month, which was 16.2 per cent, or 2,349 units, lower than the same period a year ago.
Year-to-date, registrations were down by 14.9 per cent, or 20,759 units, compared with 2023, and 22.5 per cent, or 34,416 vehicles, lower than 2022.
Aimee Wiley, MIA’s chief executive, says the November data reveals distinct patterns across vehicle categories, reflecting the market’s evolving dynamics.
“Light passenger vehicles’ market share declined by 5.5 per cent this November and by 5.5 per cent year-to-date, suggesting stable but slightly reduced demand in this traditionally dominant segment,” she explains.
Meanwhile, light commercial vehicles reached a 19.6 per cent share in November, up from 14.9 per cent in November last year. Year-to-date, such vehicles represent 26.2 per cent of total industry sales, rising from 21.5 per cent in 2023.
“The shift from light passenger to light commercial signals a growing preference for vehicles offering flexibility and versatility, particularly for mixed-use applications,” says Wiley, pictured.
Business buyers accounted for 50.2 per cent of new vehicle sales last month and rental buyers 40.6 per cent, “underscoring the sector’s essential role in supporting logistics and industry”.
Wiley continues: “Year-to-date data shows business purchases with a solid 74.8 per cent share, highlighting the segment’s reliance on commercial and industrial demand.”
A breakdown of registrations by motive power for last month reveals battery electric vehicles (BEVs) claimed a 5.8 per cent market share with 700 units.
Plug-in hybrids (PHEVs) secured 2.7 per cent with 327 sales, hybrids clocked up 4,136 registrations for 34 per cent, and vehicles with internal combustion engines accounted for 57.6 per cent of the market with 7,007 units.
Last month’s leading segments were medium SUVS on 27.9 per cent, compact SUVs with 19.5 per cent and pick-up/chassis cab on 12.6 per cent.
