HGV market posts another year of growth

UK new heavy goods vehicle (HGV) registrations rose by 9.6% to 40,716 units in 2022, according to new figures published by the Society of Motor Manufacturers and Traders (SMMT).

The first full year of open trading since the pandemic saw robust demand from the haulage, construction and distribution sectors, with deliveries helped by easing supply chain and logistics disruptions. While the market remains -16.1% below 2019, a strong Q3 performance, followed by 14.4% year-on-year growth in Q4, resulted in a better second half to the year than pre-pandemic.

 

Growth in 2022 was driven by articulated truck deliveries, up 21.9% to 19,414 units, while rigid truck registrations increased by 0.3% to 21,302 units. Tractors remained by far the most popular segment, rising by 21.7% to 19,076 units, followed by box vans, which grew 0.2% to 4,062 units. Demand for curtain-sided lorries was also up, by 5.9%, while there were declines in registrations of tipper (-0.8%), dropside (-3.1%) and refuse vehicles (-14.8%).

Mike Hawes, SMMT chief executive, said, “Another year of growth in HGV registrations marked by a strong second half performance shows that operators have an increasing appetite to invest, with deliveries enabled by the easing of supply and logistics disruptions. As manufacturers deliver more zero emission vehicles to market, there must be policy certainty and infrastructure assurance to inspire further fleet renewal. This will be essential to the UK’s ability to deliver its decarbonisation agenda, while keeping the British economy and society on the move.”