2020 decline for HGV market
New heavy goods vehicle (HGV) registrations declined by 32.2 per cent in 2020, according to new figures. The Society of Motor Manufacturers and Traders (SMMT) said the decline, which led to the weakest demand since 2010, is attributed to both the pandemic impacting business confidence to invest in new assets, and a bumper 2019 when new smart tachograph legislation led to a 12.6 per cent increase in registrations.
32,918 units were registered during 2020, 57.7 per cent of which were rigids, while 42.3 per cent were articulated trucks. The industry recorded declines in both types of truck, with 7,352 fewer rigids (-and 8,265 fewer artics being registered.
Mike Hawes, SMMT chief executive, said: “From September, truck utilisation began to exceed pre-pandemic levels, but registrations continued to fall.
“Operators have been sweating their existing assets given the ongoing uncertainty from lockdown, and an underlying structural decline in the market given many would have renewed their fleet in 2019.
“Following such a tumultuous year, where the industry has acquitted itself well under the circumstances, it is vital that operators can have confidence restored so they can invest in the latest low-emission vehicles, helping the country to deliver on its green goals while ensuring the economy and society continues to move.”