Business Confidence Pushes Up HGV Registrations

Those of us in the UK haulage industry have had a difficult few years. Between slower-than-expected economic recovery, turbulence within the industry in 2014 and the looming challenge of the skills gap, it hasn’t been the industry’s finest hour. However, newly released figures are cause for celebration among HGV drivers and anyone else who makes their living in the logistics industry.

Sustained and Long-Term Growth

The Society of Motor Manufacturers and Traders, or SMMT, has released figures that suggest we can look forward to sustained, long-term growth. Overall, HGV sales have leapt by 19.2% over last year, marking an increase of close to one-fifth. Most of this growth has come in the form of rigid trucks, whose sales have risen by a whopping 47.1%. The 16-tonne-plus market has also seen impressive growth, wherein 4,299 vehicles have been sold this year (a 48.1% increase on last year’s sales). So while some vehicles (such as 3-axle arctics) have been less successful this year, the industry has seen an overall period of healthy growth.

Much like in previous years, tractors have remained by far the largest sector within the HGV market, accounting for some 38% of all HGVs sold in the UK. While this represents a 9.3% decline from last year’s figure, the overall trend within the UK HGV market is very much one of growth.

What Does This Mean for HGV Drivers?

Mike Hawes, chief executive of the SMMT, has said that the growth in the market is a sign to HGV drivers that we can expect a “continued, steady period of growth”. Existing drivers can look forward to increased work availability and job security, while this also marks a good time for prospective drivers to cut their teeth. The forecasted growth should ensure that existing HGV drivers are able to continue working, while new drivers should also have plenty of work to keep them busy.

Those elsewhere in the haulage sector can look forward to good times as well: the increased sales of HGVs suggest that this growth will be reflected in all aspects of the industry, so whether you’re a dispatcher, a manager or a mechanic, you should be feeling the effects of a healthy industry before long.

What’s Next?

The growth follows a period of uncertainty over the UK’s economy in the face of the EU Membership Referendum, which is a sign of robust growth, although the outcome of the referendum will have far-reaching implications for every part of the UK’s economy. There are particular fears that Brexit could result in serious damage to the UK’s import-export markets (a large portion of our GDP depends upon exports to continental Europe), but the impact of the referendum, much like the outcome, remains to be seen.