New figures published by the Society of Motor Manufacturers and Traders (SMMT) have revealed a considerable uptick in heavy truck demand during the first half of the year.
Overall, the sector witnessed its largest half-year total in heavy truck sales (21,434) since 2008, with demand within the sector rising by 12.9 per cent in comparison to the same period last year.
Q2 was highlighted as being a particular positive time for the UK market, with a 7.6 per cent annual increase in sales.
Overall, the rigids six to 16-tonne market delivered the strongest levels of growth so far this year, delivering an annual increase in purchases of 38 per cent. However, this positive shift was somewhat counteracted by a 9.4 per cent contraction in the articulated sector.
Responding to the latest data, SMMT chief executive Mike Hawes commented: "It's encouraging to see HGV operators continuing to invest following the growth seen last year – the result of pent-up demand created by regulatory upheaval in 2014.
"We're now seeing fleet renewal patterns return to normal and all the signs point towards further growth, albeit at a steadier rate."
He added that a continued focus on improved business confidence will be essential to see this positivity in the market carry forward into the remainder of the year.
Posted on 18th August 2016
< Back to Latest News