HGV market defies supply challenge with 12.9% surge in 2021


 

New heavy goods vehicle (HGV) registrations rose by 12.9% year-on-year in 2021, according to the latest research from the Society of Motor Manufacturers and Traders (SMMT). Growth in key industry sectors such as construction saw demand outstrip supply, with truck registrations surging from a locked-down 2020 fall of 32.2%. However, availability was hit by the global semiconductor shortage, as well as supply constraints affecting steel and aluminium, resulting in 7,571 fewer (16.9%) HGV units registered compared with the pre-pandemic average. […]