UK Truck Registrations in decline

Worrying trend in UK truck registrations continues in 2018

January registration figures show 14.8% year on year decline

2017 saw a concerning drop in heavy truck registrations, amounting to a 2.8% decline compared to 2016. Operator confidence in the market, and lack of surety for the industry in light of the challenges that lie ahead with Brexit have been cited as the main factors.

New data shows that the trend is not just continuing, but increasing, with a steady further decline in month on month registrations since September, and January’s figure’s showing a stark decline of nearly 15%.

All of this is in stark contrast to figures across Europe, where, in 2017, registrations were up 8.9% in 2017 for trucks over 16 tonnes. France showed the greatest increase in registrations, up over 15% during the year.

Commenting on the trends, SMMT Chief Executive Mike Hawes observed “To avoid long-term disruption, government must address economic and political concerns and restore the business certainty needed for this important market to prosper.”

Eddie Johnson, Managing Director of Isis Insurance commented “The drop in new vehicle registrations is something we have been aware of for some time, and certainly we have seen more of our customers operating older vehicles for longer. The ever increasing cost and regulatory pressure placed on the operators of heavy trucks continues to play a part in the trend, and until government and regulators recognise the burden placed on operators, then the downward trend is likely to continue.”