HGV sales post strong growth in third quarter

New UK HGV registrations increased by 30% in the third quarter of 2022 - the best quarterly growth since Q3 2021.

New UK HGV registrations increased by 30% in the third quarter of 2022, demonstrating the best quarterly growth since Q3 2021 and driving volumes up 17% on Q3 figures in 2019 pre-pandemic, new figures have revealed.

Statistics published by the Society of Motor Manufacturers and Traders (SMMT) found that 10,034 units were registered across the three months. The third quarter growth was driven by strong demand for artics and rigid trucks, up 53% to 4,510 units and 16% to 5,524 units respectively.

There were notable increases of 56% for trucks with three or more axles, and 34% for two axle models. Rigids also posted growth, predominately within the 6-16 tonne sector, which recorded a 22% increase, while >16T vehicles saw a slightly more modest rise of 13%.

Meanwhile, tractor units continued their strong performance across 2022 with deliveries up 53% to 4,409 units and accounting for 44% of the market. Box vans followed closely behind, with a 47% increase.

Across the UK nations, HGV deliveries varied considerably but most noted increases. Strongest growth was seen in England, with 89% being registered here, up 32%, while Wales saw the lowest increase at 3%. In Scotland and Northern Ireland, the HGV market rose too, up 30% and 14% respectively.

The strong third quarter performance saw the market overcome the weaker first half of the year, driving up overall year-to-date volumes by 8% to 29,404 units. This is despite ongoing semiconductor and raw materials shortages which have shown signs of easing this quarter, with deliveries rising as the holiday season approaches, however, this is down 18% on Q3 year-to-date 2019 figures.

“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,” said Mike Hawes, SMMT chief executive.

“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.”

Dan Parton
Dan Parton
Dan Parton is a former editor of Truck & Driver, the UK’s biggest selling truck magazine. He is now writes for The Van Expert and The Truck Expert.

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