New HGV registrations decline -1.6% in Q3 2020
The UK’s new heavy goods vehicle (HGV) market declined slightly in the third quarter of 2020, down -1.6% with 8,419 units registered, according to figures published by the Society of Motor Manufacturers and Traders (SMMT).
Articulated heavy truck demand fell by -17.1% in the quarter, although this decline was entirely attributable to an -18.6% drop in tractor registrations, which accounted for more than a third (38.8%) of the HGV market. Meanwhile, it was a brighter three months for rigid trucks, with the >6-16T and >16T segments growing by 20.8% and 8.5% respectively, leading to a 12.6% overall increase for the segment.
In the year to date, however, the overall market remains -39.6% down on the same period in 2019, equivalent to a loss of 14,258 units year on year.
Mike Hawes, SMMT Chief Executive, said: "While Q3 saw some stability return to the HGV market, this may well be short-lived amid fresh autumn lockdowns across Wales and England. These lockdowns should serve as a reminder of the critical role the industry plays in keeping the country’s shelves stocked with vital supplies, and the need to provide operators with business certainty and confidence. As the end of 2020 approaches, this will mean a redoubling of efforts to secure a zero-tariff trade deal with EU, as well as promoting fleet renewal to help drive a green recovery for the sector, and the UK."