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UK truck market remains strong as demand grows in 2016

13 February 2017 #CV Sector #HGVs #Registrations #SMMT News #TNB News
  • HGV registrations increase in 2016, up 5.3% to 46,231 units.
  • Demand for rigid vehicles drives growth, up 17.0% compared with 2015.
  • 2016 ends on a positive, with steady 2.3% rise in Q4.

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.

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.

Download the HGV registrations press release and data table.

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