HGV market falls in Q3 following regulatory change

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The UK new heavy goods vehicle (HGV) market declined -13.1% in Q3 2019, according to recently released figures from the Society of Motor Manufacturers and Traders (SMMT). Between July and September, 8,557 heavy trucks were registered, which is thought to be as a result of regulatory changes that saw operators pull purchases forward into the first half of the year.

Registrations of rigid trucks declined by a fifth (20.5%) in the third quarter, with a -28.5% decrease in the >6-16T segment and a -15.7% decline in the >16T segment.

Meanwhile, demand for artic vehicles also fell, by -3.4% to 4,100 units.

Tractors remained the most popular vehicle, accounting for almost half of the market and despite a -4.7% drop in demand. All other body types experienced declines, with curtain-sided trucks experiencing the biggest percentage fall, down -28.0%.

Despite the fall in the quarter, the new HGV market remains strong year to date, with registrations in the first nine months up 18.8% year-on-year to 36,021. Both rigid truck and articulated vehicle registrations show growth, up 16.2% and 22.4% respectively.

SMMT ANALYSIS