HGV registrations increase by 5.3 per cent

Registrations of new HGVs rose by 5.3 per cent to 46,231 in 2016, according to new research by the SMMT. Demand for rigid vehicles had increase by 17 per cent in comparison to the previous year.

13,555 new HGVs were registered at the end of the year in Q4 – an increase of 2.3 per cent on the year before.

Artics vehicles were down by -7.5 per cent, but rose by 0.7 per cent later in the year.

Mike Hawes, SMMT chief executive, said: “Another year of growth for the HGV market in 2016 is a positive sign for the sector, particularly as it follows such an exceptionally strong 2015. HGVs are essential for transporting vital goods around the country and their demand provides a barometer for the UK economy, so these results are certainly welcome. Looking ahead, we must ensure business uncertainty is minimised so that this success continues.”