HGV registrations increase by 30% in Q3

New HGV registrations increased by 30% in Q3, marking the best third quarter performance since 2017.

The market now sits 8% ahead of last year-to-date, but 18% behind pre-pandemic figures for the same period, according to data from the Society of Motor Manufacturers and Traders (SMMT).

A total of 10,034 units were registered across the three months, demonstrating the best quarterly growth since Q3 2021.

Mike Hawes, SMMT chief executive, said: “Large growth in the heavy goods vehicle market is welcome amid the myriad challenges facing the sector, and signs of supply chain issues finally beginning to ease deliver hope for a more positive 2023.

“To maintain strong momentum, solidify recovery and drive fleet renewal, essential for delivering cleaner air in our towns and cities, the government must focus on measures to help drive demand for decarbonised heavier vehicles. This means investment in charging infrastructure that is accessible for trucks and reflective of their growth, ahead of need, while also taking a technology neutral approach as we race towards 2040 and the goal for all HGVs to be zero emission.”

The strong performance was driven by demand for artics and rigid trucks – up 53.1% to 4,510 units and 15.8% to 5,524 units, respectively. There were notable increases of 56.1% for trucks with three or more axles, and 33.7% for two axle models. Rigids also posted growth, predominately within the 6-16T sector, which recorded a 21.7% increase, while >16T vehicles saw a slightly more modest rise of 12.7%.

Meanwhile, tractor units continued their strong performance across 2022 with deliveries up 53.2% to 4,409 units and accounting for 43.9% of the market. Box vans followed closely behind, with a 46.7% increase.

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