HGV market suffers 2017 stall
The new heavy goods vehicle (HGV) market declined 2.6% in 2017 following two years of strong growth, according to the Society of Motor Manufacturers and Traders (SMMT).
It found that 45,045 heavy trucks were registered last year, a result of fluctuating fleet buying cycles and ongoing economic uncertainty, mirroring similar declines in the new van market.
Demand for rigid vehicles declined five per cent in the year, with a -2.1% fall in the >6-16T segment and a 6.7% decrease in registrations of >16T vehicles. Meanwhile, demand for artic vehicles remained steady, finishing the year up 0.8% at 19,510 units.
Mike Hawes, SMMT chief executive, said, ‘Following two years of robust growth and the long cycles involved in heavy goods fleet renewal, it’s no surprise to see deliveries fall in 2017. However, declining operator confidence is also starting to take its toll on demand. To avoid long-term disruption, government must address economic and political concerns and restore the business certainty needed for this important market to prosper.’