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Commercial vehicle production nearly doubles in best August in ten years – Car Dealer Magazine

Commercial vehicle production nearly doubles in best August in ten years – Car Dealer Magazine

Commercial vehicle production nearly doubled last month, with 6,132 new vans, buses, lorries, coaches and taxis rolling off UK factory lines, according to the latest figures from the SMMT.

Production volumes increased 92.9 percent from August 2021, when production lines and semiconductor supplies suffered from Covid-related disruptions.

Robust demand meant production was at its highest level for the month since 2012 – when 7,608 units were produced – with strong growth for both vans and trucks and buses.

The sector also posted its best performance in a decade, with 64,828 CVs built in the UK – a 50.3 per cent increase from 2021.

Creating CVs Aug 2022

It is also 19.4 percent higher than the pre-pandemic five-year average of 54,754 units, resulting in the best first eight months of a year since 2012, when 72,708 units were made between January and August.

Exports have continued to grow at double digits this year, rising 78.4 percent to 3,667 units, of which around 93.5 percent were destined for the EU.

Meanwhile, production for the domestic market has more than doubled – up 119.3 percent from August 2021 to 2,465 units.

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The SMMT said continued growth over the year was due to strong order books amid strong demand from fleet managers.

CV production Aug 2022

Source: SMMT

UK CV manufacturers had demonstrated resilience and the ability to supply for domestic and foreign markets in the face of major global supply disruptions and economic challenges, it added.

SMMT chief executive Mike Hawes said: ‘Despite the toughest operating conditions in living memory, UK commercial vehicle production continues to grow, fueled by strong demand and supported by a reduction in disruption.

However, rising energy costs pose a long-term threat to the sector and its efforts to deliver zero-emission transport.

“Government measures will provide a short-term respite, but we need long-term actions that restore stability and strengthen our international competitiveness.”