New HGV market up a fifth in Q1 2019
The UK’s new heavy goods vehicle (HGV) market increased 21.2% in the first quarter of 2019, with 11,859 units registered, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). A number of large orders and strong market incentives helped drive registrations following flat performances in 2017 and 2018.
- UK new heavy goods vehicle registrations increase by 21.2% in Q1, following negative performance in 2018.
- Growing demand for Rigid and Artic trucks, up 12.9% and 32.3% respectively.
- Tractors remain most popular body type, growing 30.2% to take almost half of the market.
Registrations of Rigid trucks grew by 12.9%, with both the >6-16T and >16T segments experiencing growth. Meanwhile, demand for articulated vehicles also rose, up a significant 32.3% to 5,520 units.
The majority of body types saw a rise in registrations, including Tractors, the most popular segment, with demand growing 30.2%. Tippers and Box Vans also experienced uplifts, of 18.2% and 64.4% respectively.
Mike Hawes, SMMT Chief Executive, said,
"The significant rise in truck registrations is certainly welcome news but it is important to remember that large fleet orders can have a big impact on this relatively small volume market. Despite the increase in demand, ongoing political and economic uncertainty is still a significant factor for businesses and we may see the market level out throughout 2019."