British truck market slowed to 2.6% growth in Q2 2024
By Bradley Osborne - 2nd September 2024
UK – Growth of the British market for heavy goods vehicles (HGVs, i.e., trucks >6t) in the second quarter of 2024 slowed to 2.6% compared to the same period of the previous year, according to statistics published by the Society of Motor Manufacturers and Traders (SMMT).
11,469 new HGVs were registered in Q2 2024, only slightly more than the number recorded in the same period of 2023 (11,174 units). After growing by 17.2% year-on-year between Q2 2022 and Q2 2023, the 2.6% growth figure reported for Q2 2024 shows that market demand is stabilising, according to SMMT. Registrations of rigids were up by 9.7% to 6,640 units, whereas artic registrations fell by 5.7% to 4,829. In fact, the only segment which shrank was 3+ axle artics, decreasing by 7.9% to 4,198 units. The 6-16t rigid, >16t rigid, and 2-axle artic segments all grew, by 14.9% (to 2,402), 6.9% (to 4,238), and 12.1% (to 631) respectively.
