Today SMMT published its new heavy vehicle registration figures for quarter three with 2,367 new buses and another 10,839 HGVs hitting UK roads between July and September. It is a mixed picture for each, with one performing well and the other yet to pick up speed.
Demand for new buses, coaches and minibuses was up a stonking 36.1% in Q3 compared with last year, with fleet renewal rising for an amazing year and half. There was growth in every segment and the strongest uptake was with new minibuses and single deckers, up 38.4% and 36.4% to 1,486 and 461 units respectively. Deliveries of new double deckers also rose, by a very respectable 28.4% to 420 units.
Britain is blessed with a number of the world’s very best manufacturers in this sector, and with 14 different cutting-edge zero emission bus (ZEB) models from a wide range of brands now available to UK businesses, it is fantastic that demand for them rose by almost half (48.0%) to 484 units last quarter. The result? In the first nine months of the year, ZEBs made up a fifth (20.9%) of all fleet renewal, totalling 1,230 vehicles. But such an amount would not have been possible without government funding such as the Zero Emission Bus Regional Area (ZEBRA) and Scottish Zero Emission Bus Challenge (ScotZEB) schemes. Many operators have tight margins which can be a big barrier for decarbonisation.
With the Better Buses Bill due to be presented by government in this parliamentary session, ridership levels will be important for operators to be confident to renew their fleets. Whatever the case, more support will be needed, particularly infrastructure and for smaller and rural fleets, for every operator to be able to make the change.
Turning our attention SMMT’s new HGV registration figures, the Q3 market declined by 6.0% compared to a strong quarter last year, and following economic uncertainty during the first half of 2024 when operators would have placed new orders. It’s very positive therefore that overall uptake is still above pre-pandemic levels.
We also have reasons to be optimistic about zero emission truck uptake because the UK has the second biggest market for them by volume in Europe. But it’s a concern that registrations almost halved in Q3, -47.1% below 2023 with a market share of 0.5%, down from 0.8% last year. Operators continue to face significant barriers to making the switch on a larger scale, such as a Plug-in Truck Grant which does not give access to every vehicle on the new HGV market, as well as an absence of public and shared hub chargepoints. Addressing these two issues would begin to make a difference.
Overall for the new heavy vehicle markets, 2024 has been a highly competitive year and with Christmas and New Year on the horizon, manufacturers will be pulling out all the stops to get existing orders delivered and into the hands of operators. Looking further ahead, the CV Show on 29 April-1 May will be a key opportunity for OEMs looking to showcase their latest products, and operators seeking fresh expertise on how to maximise the benefits of fleet renewal. With registrations now open, you can sign up here.
