The UK’s heavy goods vehicle (HGV) market experienced its first downturn in three years in 2024, with new registrations falling by 2.7%, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT). Despite the decline, which includes a 3.3% drop in Q4, the figures follow a record-breaking 2023—the busiest year for truck fleet renewal since 2019. With a total of 44,988 new registrations, 2024 still stands as the second-best annual performance over the past five years.
Market Shifts and Segmented Trends
The overall decline was driven primarily by falling demand for articulated trucks, which saw a 12.4% decrease, registering 19,079 units. This downturn overshadowed the growth in rigid truck registrations, which rose by 6.0% to 25,909 units. Certain truck body types saw increased demand, including box trucks (up 13.4%), curtain-sided models (up 7.1%), tippers (up 0.9%), and flat trucks (up 4.1%). However, tractors remained the most popular HGV body style despite a significant 13.4% drop, with 18,570 units registered.
Stagnant Zero Emission Adoption Raises Concerns
While cyclical fleet renewal trends influence market fluctuations, the more alarming aspect is the stagnation in zero emission vehicle (ZEV) adoption. Registrations of zero emission HGVs declined by 7.3% to just 217 units, maintaining a mere 0.5% market share—the same as in 2023. The UK has committed to ending the sale of all new, non-zero emission HGVs under 26 tonnes by 2035, a segment that accounted for nearly three-quarters of the market last year. To meet this ambitious target, ZEV uptake must accelerate dramatically.
Manufacturers have made significant investments in delivering a diverse range of zero emission truck models. However, adoption remains sluggish due to high acquisition costs and the expensive infrastructure upgrades required for depot charging. While the UK has set some of the world’s most aggressive decarbonisation targets for HGVs, meaningful financial incentives and infrastructure expansion are needed to make the transition viable.
The Urgency for Fiscal and Infrastructure Support
The Plug-in Truck Grant, available since 2016, is set to expire in just six weeks. Its absence will leave operators without a key financial incentive for ZEV adoption. While the Zero Emission HGV and Infrastructure Demonstrator programme will provide limited support to selected fleets, the results of this initiative are not expected until 2030. Without immediate and scalable measures, the pace of transition will be insufficient to meet the 2035 deadline.
Another critical challenge is the lack of en-route infrastructure. The UK currently has fewer than five HGV-dedicated chargepoints, making widespread adoption unfeasible. A national vehicle infrastructure strategy that prioritises HGV-specific charging solutions is imperative to support the industry’s shift to zero emissions.
A Call for Action
SMMT Chief Executive Mike Hawes emphasised the need for urgent government intervention, stating, “A slight decline in truck fleet renewal reflects a sector that is normalising after strong post-Covid growth. With most of the market nearly one full investment cycle away from the 2035 end of sale, however, urgent action is needed to address stagnant zero emission uptake. Manufacturers are delivering the products – now operators must be convinced to invest. Meaningful fiscal support and infrastructure rollout is essential, therefore, so that fleet transition is a compelling commercial proposition.”
As the UK’s commercial transport sector stands at a crossroads, decisive action from policymakers and industry leaders will be crucial in shaping the future of zero emission trucking. With stringent deadlines approaching, the need for investment-friendly incentives and robust infrastructure has never been more critical.
