New HGV registrations down by 6% in Q3

UK registrations of new heavy goods vehicles (HGVs) fell by 6% in the third quarter (Q3), when compared to the same period last year, according to new figures published by the Society of Motor Manufacturers and Traders (SMMT). 

Q3 last year saw uptake surge above pre-pandemic levels to fulfil pent-up demand. Demand in Q3 2024 remained robust, at 26.7% above the same quarter in 2019.

Between July and September, 10,839 new HGVs joined fleets across the country, with growth recorded in rigids, rising 6% to reach 6,668 units, holding a 61.5% market share. 

However, artic volumes continued to decline and were down 20.4% to 4,171 units during the quarter.

Of the top five body types, box vans were the only one to see volumes increase, up by 23.9%.

Tractor units, curtainsiders, tippers and refuse vehicles all recorded declines, down 21%, 5%, 11.8% and 6%, respectively. 

As a result, the overall market year-to-date is down slightly, by 2.5%, but this is compared with last year’s flourishing market that grew 16.4% in the first nine months.

Zero-emission truck market

While the UK remains Europe’s second largest zero-emission truck market by volume, uptake almost halved during Q3, down 47.5% to achieve a market share of 0.5%, down from 0.8% in Q3 last year. 

Fleets continue to face significant barriers which prevent them from having the confidence to invest in ZEVs at a larger scale, says the SMMT. 

Dedicated HGV public charge point provision remains severely limited, it argues, while uptake from an ever-increasing choice of ZEV trucks is also stymied by a grant system that involves a lengthy application process and covers less than half of all available models.

Year-to-date, the ZEV share of the HGV market remains unchanged from last year at 0.5% of the market – yet the end of sale date for non-ZEVs under 26 tonnes is the same as that currently for cars, where market share is almost 40 times higher (18.1%). 

A national infrastructure plan and reform to the grant, would help boost operator confidence and stimulate greater uptake, says the SMMT

Mike Hawes, chief executive of the trade body, said: “After last year’s surge in truck demand, one quarter of decline is not a cause for serious concern. 

“Falling zero emission truck uptake, however, is another matter, showing the market is struggling to keep up with ambition. 

“Reforming the Plug-in Truck Grant and more rapidly rolling out infrastructure would help encourage more operators to switch to zero emission vehicles sooner, instead of delaying their transition and decarbonisation.”