Significant growth for UK’s heavy duty truck market, but uncertainty looms

17 Aug, 2019 | posted in: News | 0
Significant growth for UK’s heavy duty truck market, but uncertainty looms

The United Kingdom’s heavy goods vehicle market witnessed a 46.3 percent increase in the second quarter of 2019 compared to the same time period in 2018. That’s according to a study published by the Society of Motor Manufacturers and Traders, which reports that 15,605 new units have been registered. The positive numbers come after a particularly strong first quarter for the heavy goods vehicle market, reflecting its capacity for growth and expansion.

With that said, Society of Motor Manufacturers and Traders Chief Executive Mike Hawkes cautioned against reading too much into the new figures, that is, against becoming overly optimistic.

“A second strong quarter for truck registrations is certainly welcome news, however the swell in market size is undoubtedly due to operators choosing to expand their fleet ahead of the introduction of additional regulation,” he said, according to FleetPoint. “This significant performance means we may see the market level out throughout the second half of the year, especially given the role ongoing political and economic uncertainty could play in deterring further commitments to big fleet purchases.”

Nevertheless, the figures are encouraging. Registrations for rigid trucks were up 51.9 percent while articulated vehicles saw a 38.1 percent increase in demand, up to more than 6,000 units.

The most exponential growth occurred in the tanker truck and tower wagon sectors. The former is up 109.3 percent compared to the second quarter of 2018; the latter 111.1 percent.

Demand for tractors, meanwhile, was up a solid 34 percent.

The term “heavy goods vehicle” is used by the European Union in reference to any truck with a gross combination mass of more than 3,500 kg.