Figures released this week by the SMMT show a very strong picture for new HGV registrations in the first part of 2016, growing by 19.2% compared to Q1 2015.
On the SMMT’s Transport News Brief website, the organisation attributes the growth to “continued business confidence” highlighting that more than 10,000 new commercial vehicles over six tonnes were registered from January to the end of March.
Rigids, specifically those over 16 tonnes, grew by 48.1%, while there was a small decline in 3-axle arctic registrations. Tractor units accounted for 38% of new HGVs over the period.
SMMT Chief Executive Mike Hawes thinks we are seeing a stabilisation in demand following “regulatory upheaval” in 2014. “This is a positive start to the year…large rigids saw more moderate growth than at the end of 2015 – a sign that the sector is set for a continued, steady period of growth.”
At the Microlise Transport Conference last week, we hosted a manufacturer panel session in which seven executives looked ahead to the future of the industry. Anecdotally, many reported the larger end of the HGV market is thriving, though they did say the lighter end of the market is not showing the same gain.
The full Manufacturer Road Transport 2020 session and other video content gathered during the conference can be viewed at the Microlise YouTube Channel.