9,837 heavy goods vehicles registered in first three months of 2022, which is down -2.3% after supply chain issues and economic uncertainty affected the segment, in the latest Society of Motor Manufacturers and Traders (SMMT) figures.
UK HGV Market Still Votatile
UK HGV registrations declined by -2.3% to 9,837 registrations in the first quarter of 2022. The decline saw 9,837 units registered in Q1, down 227 on a volatile first quarter in 2021, with the sector still some distance from a pandemic recovery at -17.1% below Q1 2019.
While demand for HGVs, particularly from the construction industry, has remained robust, global shortages of semiconductors and raw materials, including steel and aluminium, have restricted vehicle deliveries to fleet operators.
Registrations of rigid trucks fell by -10.1% to 4,975, accounting for just over half (50.6%) of the market, while those of articulated trucks rose by 7.4% to 4,862 units. There was increased demand for tractors, the largest segment by volume, up 8.3% and comprising 49.1% of the market. However, all other segments saw decline, including box vans (-13.7%), tippers (-16.0%), curtain-sided trucks (-12.4%) and refuse disposal vehicles (-31.3%). Fleet renewal cycles are more visible in these lower volume segments, with registration levels more likely to be artificially impacted by supply shortages.
Across the UK nations, uptake varied considerably. Around four in five new trucks were registered in England, which recorded a decline of -2.8%, while registrations in Scotland fell by -14.0%. Northern Ireland and Wales registered 40.8% and 8.7% more HGVs than in the same period last year respectively, although they made up a combined total of only 6.3% of UK registrations.
Mike Hawes, SMMT Chief Executive, commented: Despite the myriad challenges facing the heavy goods vehicle sector, manufacturers have remained resilient, striving to fulfil order books as quickly as possible amid robust demand for the latest technology trucks. Despite the market’s post-pandemic recovery continuing to be frustrated by supply chain shortages and disruptions, HGV operators considering their next fleet investments are encouraged to move early to secure the new vehicles that will meet their business needs.
“The sector continues to play a crucial role in the UK economy and faces the same decarbonisation challenges as the rest of road transport. The government’s newly announced zero emission HGV demonstrator programme will provide useful guidance to help operators plan their long term fleet strategy.”
