UK commercial vehicle production boasts best February since 2008
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 by the Society of Motor Manufacturers and Traders (SMMT). The 98.4 per cent 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.
February’s production boost was driven by significant demand for British-built vehicles in overseas markets. Exports increased by 188 per cent to 10,011 units, representing 77.4% of all CVs made in the month, with more than nine in 10 destined for the EU. Conversely, output for the domestic market fell for the second month in a row, down -4 per cent 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, up some 56.4 per cent on the first two months of 2023. Exports have driven this growth, up 104.5 per cent to 17,976 units, an increase of 9,184, while volumes for the home market have fallen by 279 to 6,707 units.
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 now is to maintain this success amidst fierce global competition, accelerating 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.”
