Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
UK commercial vehicle (CV) manufacturing grew 16.0% in the first six months of the year as 58,675 units rolled off factory lines.
June marking the third consecutive month of growth, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT).
It reported that 11,748 units were produced in June, up 23.0%, marking the best first half year for UK van production since 2011.
H1 production was 67.0% up on pre-pandemic 2019 volumes, with growth driven by overseas demand, exports of the British-built CVs rising 26.7% compared to the same period last year, at 37,803 units.
Overseas shipments represented more than 6 in 10 (64.4%) of all CVs made since January, with 92.8% shipped into the European Union, followed by America and Asia.
Volumes for the domestic market increased marginally, with output up 0.5% to 20,872 units.
The latest independent outlook forecasts light CV production to grow 44.0% to around 114,500 units this year. Volumes are then expected to rise again in 2024 to nearly 150,000 units providing economic conditions allow and the UK-EU trading relationship of electric vehicles continues to operate as it does today.
Mike Hawes, SMMT chief executive, said, “Commercial vehicle output has continued to buck the challenging economic conditions, reaching record levels. This is good news for the sector, for jobs and for the wider economy. With growth set to continue, and some positive investment announcements into UK auto recently, there is increased positivity within the industry. We must now build on this recovery, ensuring we stay competitive and attract more global investment to scale up our EV supply chain and position the UK as a world-class destination for vehicle manufacturing.”