The latest figures reveal a 2.6% rise in HGV registrations in Q2, reversing the previous quarter’s decline.
- Growth was largely propelled by increased uptake of rigid trucks, addressing a backlog of demand from 2023.
- A notable shift in market preferences saw investments into box vans, curtainsiders, and refuse vehicles rising significantly.
- HGV registrations in England saw a modest increase, while Northern Ireland experienced a surge, overtaking Wales in market size.
- Zero emission vehicle uptake continues to grow, though it still forms a small fraction of the market.
The second quarter witnessed a 2.6% increase in Heavy Goods Vehicle (HGV) registrations, effectively reversing the decline observed in the first quarter of the year. The Society of Motor Manufacturers and Traders (SMMT) reported this growth was largely driven by a rise in the adoption of rigid trucks. This uptick was seen as the market continued to normalise following the fulfilment of pent-up demand from 2023.
A total of 11,469 new HGVs entered service during this period. Rigid truck registrations rose by 9.7% to 6,640 units, although there was a decline in articulated lorry volumes by 5.7%, bringing them down to 4,829 units. The market’s preference was evident with businesses increasingly investing in top body types such as box vans, which rose by 17.3%, curtainsiders by 14.9%, tippers by 11.4%, and refuse vehicles by 14.1%. Conversely, tractor unit volumes saw a decrease of 7.4%.
Most of the new HGV registrations occurred in England, which saw an increase of 1.6% to 9,827 units. Meanwhile, Northern Ireland experienced the largest growth, with registrations going up by a remarkable 30.6%, thereby surpassing Wales to become the third largest HGV market in the UK. This regional growth indicates a diverse and shifting landscape within the UK HGV market.
The uptake of zero emission vehicles (ZEVs) also continued its upward trajectory, with an increase of 30%, achieving a market share of 0.6% compared to last year’s 0.4% in the same quarter. Despite this growth, zero emission vehicles still maintain a small market share when juxtaposed with the car and van sectors. SMMT’s chief executive, Mike Hawes, remarked on the robustness and resilience of the truck market despite earlier setbacks. He highlighted the UK’s significant position as Europe’s second largest zero emission truck market, noting the potential leadership role the country could play in the ZEV transition.
However, delivering on this potential demands substantial incentives and infrastructure that will support operators confidently as they move towards 2035 and beyond. Hawes acknowledged this future need, emphasising the importance of such developments to align with the ambitious zero emission goals set by the sector.
The second quarter results underscore the resilience of the UK HGV market, highlighting growth and adaptation amidst rising demand and environmental shifts.
