UK NEW HGV REGISTRATIONS
15 August 2024 (data for Q2 2024)
Hi-res charts available via Dropbox: https://www.dropbox.com/scl/
- UK new heavy vehicle market grows 2.6% in Q2 as overall uptake stabilises following bumper 2023.
- Rigid demand rises 9.7% and takes greater share of registrations as market continues to normalise.
- Zero emission truck uptake rises 30.0% in the quarter but still only 0.6% market share.
Thursday 15 August, 2024 New heavy goods vehicle (HGV) registrations rose 2.6% in Q2 2024, reversing the decline recorded in the first quarter of the year, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).
Spring saw 11,469 new HGVs enter service, with growth driven by a rise in rigid truck uptake as the market continues to normalise following the fulfilment of pent-up demand in 2023. Rigids rose 9.7% in Q2 to reach 6,640 units, taking a 57.9% market share, up from 54.2% in the same quarter last year. Conversely, artic volumes declined by -5.7% to 4,829 units.
The weighting of the market towards rigids was reflected in the composition of the top body types, with businesses investing more in box vans (up 17.3%), curtainsiders (up 14.9%), tippers (up 11.4%) and refuse vehicles (up 14.1%), while tractor unit volumes fell -7.4%.
Nationally, England took the lion’s share of new HGV registrations, with volumes rising 1.6% to reach 9,827 units. Northern Ireland recorded the largest growth, up by 30.6%, which saw it overtake Wales to become the UK’s third largest HGV market.
Zero emission vehicle (ZEV) uptake also continued to grow, buoyed by ever-expanding choice. Uptake rose by 30.0% to achieve a 0.6% share of market, up from 0.4% in Q2 last year. However, market share remains low compared with the car and van sectors1, demonstrating the ongoing challenge in convincing operators to switch from fossil fuels.
With just over a decade to go until the end of sale of non-ZEV HGVs weighing less than 26 tonnes, operators continue to face a grant system that is lengthy and covers fewer than half of all available models. Progress on the rollout of HGV-specific charging facilities also remains lacklustre. Reforming the grant, plus investment in infrastructure within a national plan, would provide more confidence to operators and encourage greater uptake.
Mike Hawes, SMMT Chief Executive, said: “The truck market’s return to growth after a slower start to the year demonstrates its robustness and resilience – particularly as overall uptake continues to keep pace with last year and the pent-up demand that fuelled volumes. The UK’s place as Europe’s second largest zero emission truck market also demonstrates Britain’s potential to be a leader in the ZEV truck transition. Delivering that ambition, however, requires compelling incentives and infrastructure which will put operators on a confident path to 2035 and beyond.”
Notes to Editors
1 BEV H1 2024 market shares: Cars 16.6%; LCVs 4.7%
About SMMT and the UK automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations, representing the automotive industry in the UK.
The automotive industry is a vital part of the UK economy, integral to growth, the delivery of net zero and the UK as a global trade hub. It contributes £93 billion turnover and £22 billion value added to the UK economy, and invests around £4 billion each year in R&D. With 198,000 people employed directly in manufacturing and some 813,000 across the wider automotive industry. Many of these automotive manufacturing jobs are outside London and the South-East, with wages that are around 13% higher than the UK average. The sector accounts for 12% of total UK exports of goods with more than 140 countries importing UK produced vehicles, generating £115 billion of trade in total automotive imports and exports.
The UK manufactures almost every type of vehicle, from cars, to vans, taxis, trucks, buses and coaches, as well as specialist and off-highway vehicles, supported by more than 2,500 component providers and some of the world’s most skilled engineers. In addition, the sector has vibrant aftermarket and remanufacturing industries. The automotive industry also supports jobs in other key sectors – including advertising, chemicals, finance, logistics and steel.
More detail on UK Automotive available in SMMT’s Motor Industry Facts publication at www.smmt.co.uk/reports/
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SMMT media contacts
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Scott Clarke | 07912 799959 | sclarke@smmt.co.uk |
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