UK fleet demand for HGVs back to pre-pandemic levels

The UK market for new heavy goods vehicles (HGVs) grew by 17.2% to 11,174 units in the second quarter of 2023, the fifth consecutive quarter of growth, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).

Growth was driven primarily by registrations of articulated trucks, up 23.3% to 5,121 units, while deliveries of rigid trucks rose by 12.5% to 6,053.

That reflects increased demand across the majority of truck segments, with tractors continuing to be the most popular by some distance, up by 23.7% to 5,047 units and a 45.2% market share.

Registrations of box vans, meanwhile, grew by 14.2% to 1,153 units, while deliveries of curtain sided and dropside trucks rose by 23.6% and 7.6%.

Tippers was the only segment in the top five to record a decline, with registrations down by 12.5%.  

Uptake grew in three of the four Home Nations, with registrations in England up 17.3% to account for more than eight in 10 (86.6%) UK deliveries.

Demand in Scotland and Northern Ireland also rose, with registrations up 34.9% and 5.0% respectively, while deliveries in Wales fell by 7.5% following a strong period of fleet renewal in Q1 this year.

By region, operators in south east England registered the most new trucks (20.6% of the total), followed by those in the north west (13.5%) and Yorkshire and Humberside (11.9%).

Rising demand and easing supply chain restrictions helped HGV registrations grow by 17.1% in the first half of 2023 to 22,691 units – surpassing typical pre-pandemic levels.

Five successive quarters of market growth demonstrates the confidence of HGV operators in renewing their fleets with the latest fuel-efficient trucks, says the SMMT.

This includes zero emission models, with electric and hydrogen HGVs representing 0.4% of the market, up from 0.3% in Q1 this year.

Mike Hawes, SMMT chief executive, said: “HGV fleet renewal has flourished, finally beating pre-pandemic levels with five straight quarters of growth.

“Growing confidence for fleet investment is also translating into new zero emission truck demand, demand which must grow still faster if the UK’s green goals are to be achieved.

“Accelerating this transition, however, requires dedicated HGV charging and refuelling infrastructure and incentives to encourage uptake and depot upgrades. Doing so can help Britain become the world’s first decarbonised truck sector. There is no time to delay.”