UK heavy goods vehicle market shrinks by -73.4% in second quarter. Markets for both rigid and artic trucks in decline, with a total 4,151 vehicles joining UK roads. Year-to-date demand halves, down -51.4% with just 13,344 vehicles registered in the first six months.
Steep Drop in HGV Registrations
The UK’s new heavy goods vehicle (HGV) market fell -73.4% in the second quarter of 2020, with 4,151 units registered, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). While the bulk of the decline was driven by coronavirus lockdown measures, a particularly strong Q2 in 2019 – when the introduction of smart tachographs saw a large uptick in orders – contributed to this year’s decline.
Registrations of rigid trucks fell -72.6%, with both the >6-16T and >16T segments experiencing similar sharp declines. Elsewhere, demand for articulated heavy trucks fell by -74.7% to 1,525 units. While tractors continued to make up the majority of HGV registrations with a 35.9% market share, all segments saw demand halved or worse.
In the year to date, the market is now some -51.4% lower than the same period in 2019, with 14,120 fewer vehicles registered.
Mike Hawes, SMMT Chief Executive, said, “Such a sharp decrease in heavy commercial vehicle registrations is deeply concerning given the sector’s critical role in keeping the country moving. While it is important to be mindful of the pronounced boost the introduction of new technologies had on last year’s figures, 2020 has been unprecedented. Given the current economic uncertainties, restoring operator confidence will be crucial in driving the UK’s recovery but also ensuring it is a green recovery, as getting more of the latest high-tech, low emission vehicles onto our roads is key to addressing environmental concerns.”