Strong start to 2016 for heavy truck market as new registrations grow by a fifth – SMMT
- New HGV market grows 19.2% in Q1 2016 with 10,363 units registered.
- Demand for rigids over 16T fuels market growth with 48.1% increase.
- Articulated segment declines -9.3%, driven by fall in demand for 3-axle units.
The new HGV (heavy goods vehicle) market in the UK grew by almost a fifth in the first quarter of 2016, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Continued business confidence resulted in more than 10,000 new commercial vehicles over six tonnes being registered in the first three months of the year, a 19.2% increase compared to Q1 2015.
Growth was driven by increased demand for rigids, specifically those over 16 tonnes which saw a 48.1% rise, offsetting a small decline in 3-axle artic registrations. Tractors were the most popular body type for HGVs in the first three months of the year, accounting for 38% of the heavy goods vehicles that hit British roads in Q1.
Mike Hawes, SMMT Chief Executive, said, “This is a positive start to the year for the heavy truck market, with demand having stabilised following the regulatory upheaval seen in 2014. Large rigids saw more moderate growth than at the end of 2015 – a sign that the sector is set for a continued, steady period of growth.”