Heavy truck market achieves eightyear high in first half of 2016

Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) The heavy goods vehicle (HGV) market achieved steady growth in the second quarter of 2016 – up 7.6%, with more than 11,000 new vehicles registered, according to figures released today by SMMT. The performance marks the fifth quarter of consecutive growth for the sector, boosting year-to-date registrations by 12.9% to 21,434 – the highest volume for the period since 2008.Continuing a trend set in Q1, rigids drove growth for the second quarter, with registrations of vehicles in the 6-16T segment and those weighing in at more than 16T experiencing significant growth, up 25.5% and 20.5% respectively. The rise offset declining demand for 3-axle artics – down 11.4% – while tractor units were the most popular body type, accounting for 39% of the HGVs that hit British roads in Q2.Mike Hawes, SMMT Chief Executive, said, “It’s encouraging to see HGV operators continuing to invest following the growth seen last year – the result of pent-up demand created by regulatory upheaval in 2014. We’re now seeing fleet renewal patterns return to normal and all the signs point towards further growth, albeit at a steadier rate. Maintaining business confidence must now be a priority to ensure this crucial sector’s ongoing success.”Download the full release and data here. New HGV market grows 7.6% in Q2 2016, with 11,071 units registered.Rigid vehicles drive demand, up 22.3% compared with Q2 last year.Year-to-date performance up 12.9% to 21,434 units – the highest for eight years. read more