- New HGV market grows 7.6% in Q2 2016, with 11,071 units registered.
- Rigid vehicles drive demand, up 22.3% compared with Q2 last year.
- Year-to-date performance up 12.9% to 21,434 units – the highest for eight years.
The heavy goods vehicle (HGV) market achieved steady growth in the second quarter of 2016 – up 7.6%, with more than 11,000 new vehicles registered, according to figures released today by SMMT. The performance marks the fifth quarter of consecutive growth for the sector, boosting year-to-date registrations by 12.9% to 21,434 – the highest volume for the period since 2008.
Continuing a trend set in Q1, rigids drove growth for the second quarter, with registrations of vehicles in the 6-16T segment and those weighing in at more than 16T experiencing significant growth, up 25.5% and 20.5% respectively. The rise offset declining demand for 3-axle artics – down 11.4% – while tractor units were the most popular body type, accounting for 39% of the HGVs that hit British roads in Q2.
Mike Hawes, SMMT Chief Executive, said, “It’s encouraging to see HGV operators continuing to invest following the growth seen last year – the result of pent-up demand created by regulatory upheaval in 2014. We’re now seeing fleet renewal patterns return to normal and all the signs point towards further growth, albeit at a steadier rate. Maintaining business confidence must now be a priority to ensure this crucial sector’s ongoing success.”
Download the full release and data here.
