Hire and reward sector hit hard

Author:Angela Rainsford

Posted:1st September 2010

Category:HGV Insurance

As a leading HGV insurance broker Staveley Head, read the recent statistics from the Department of Transport (DFT) which show the severe effect the recession has had on the road transport industry.

The report from the DFT shows National Statistics on the activity of heavy goods vehicles (over 3.5 tonnes gross weight) during the past year. The report reveals that the amount of goods moved by hauliers for hire and reward last year fell to its lowest point since the DFT started reporting on the movements.

According to the DFT the amount of goods moved by HGV’s in 2009 fell by 13 per cent compared to the previous year. Also on the decrease was the number of vehicles registered, the end of 2009 saw  415 thousand goods vehicles over 3.5 tonnes registered in Great Britain, of which 7 per cent were first registered in 2009. This is the lowest recorded number of first registered vehicles since 1992.

Ten years ago the split between the hire and reward operators and own-account operators was reported to be a 75 per cent share going to hire and reward operators and the remaining 25 per cent going to own-account operators. It now appears the gap is closing with a split of 38 per cent to 62 per cent in favour of hire and reward operators.

Staveley Head is a leading provider of HGV Insurance in the UK.

For more information regarding this article, or to compare HGV Insurance quotes, contact Staveley Head on 0845 017 9991.