UK commercial vehicle production is up by 98.4% to 12,927 units in the fifth month of growth.
Commercial Vehicle Production Boost
UK commercial vehicle (CV) production almost doubled in February, with 12,927 vans, trucks, taxis, buses, and coaches leaving factory lines, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). The 98.4% uplift in volume was the best February performance since 2008 and follows a particularly weak February last year as supply chain issues, notably semiconductor shortages, impacted manufacturing output.
The demand for British-built vehicles in overseas markets drove February’s production boost. Exports increased by 188.0% to 10,011 units, representing 77.4% of all CVs made in the month, with more than nine in 10 (97.6%) destined for the EU. Conversely, output for the domestic market fell for the second month in a row, down by -4.0% to 2,916 units, although this represented a decline of just 123 vehicles.
In the year-to-date, 24,683 CVs have been built in Britain, representing a 56.4% increase compared to the first two months of 2023. Exports have driven this growth, up by 104.5% to 17,976 units, an increase of 9,184, while volumes for the home market have fallen by 279 to 6,707.
Mike Hawes, SMMT Chief Executive, said,
“CV manufacturing has kickstarted the year with two months of impressive growth as robust overseas demand for British-built vans continues. The challenge is maintaining this success amidst fierce global competition, accelerating the production of zero-emission vehicles to enable the fast-paced delivery of these critical models. Strong performing economies at home and abroad will be key to this ambition.”
