Demand for HGVs falls in Q3
Figures released by the SMMT show that the new heavy goods vehicle (HGV) market declined -3.6 per cent in the third quarter of 2016, with 11,242 units registered. The fall in demand follows five consecutive quarters of growth, and year-to-date the market remains strong, with registrations up 6.6 per cent against the same period in 2016.
Demand for rigid vehicles continued to increase in quarter three, with registrations of vehicles in the >6-16T and >16T segments recording growth, up 6.1 per cent and 5.3 per cent respectively. Continuing a trend set in 2016, registration of 3-axle artics fell by -17.3 per cent following substantial growth of 38.6 per cent in this segment the previous year.
Mike Hawes, SMMT chief executive, said, “Disruption to fleet renewal patterns, triggered by regulatory changes, resulted in a significant rise in registration volumes last year. Therefore it’s no surprise to see a comparative decline in the truck market at this point in 2016. Despite the decline, the HGV market remains strong, with year-to-date registrations ahead of the same period last year, and now at the highest level in eight years. Maintaining economic certainty for operators will be key to the sector’s ongoing success.”