UK truck market remains strong as demand grows in 2016

Registrations of new heavy goods vehicles (HGVs) rose 5.3% to 46,231 units in 2016, according to figures released by SMMT, marking the sector’s third consecutive year of growth. The year ended on a positive note, with 13,555 new HGVs registered in Q4 – a 2.3% improvement on the same period in 2015.

UK HGV Registrations

Quarter
Q4-16
Q4-16
% Change
Rigids  6.0-16t
2,879
 
2,435
 
18.2
Rigids < 16t
4,073
 
4,260
 
-4.4
All Rigids
6,952
 
6,695
 
3.8
2-axle artics
935
 
1,089
 
-14.1
3+-axle artics
5,668
 
5,466
 
3.7
Year-to-date
YTD-16
YTD-15
% Change
Rigids  6.0-16t
9,870
 
8,117
 
21.6
Rigids < 16t
17,012
 
14,852
 
14.5
All Artics
19,346
 
20,920
 
-7.5

Rigid vehicles continued to fuel the market throughout 2016, with both the 6-16T and >16T segments experiencing double-digit growth – up 21.6% and 14.5% respectively. The artics segment, meanwhile, ended the year down by -7.5%, but in the fourth quarter bucked the downward trend set earlier in the year, rising by 0.7% as an uplift in demand for 3+ axle artics compensated for a decline in 2 axle vehicles.

Mike Hawes, SMMT Chief Executive, said, “Another year of growth for the HGV market in 2016 is a positive sign for the sector, particularly as it follows such an exceptionally strong 2015. HGVs are essential for transporting vital goods around the country and their demand provides a barometer for the UK economy, so these results are certainly welcome. Looking ahead, we must ensure business uncertainty is minimised so that this success continues.”

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