CV market sets automotive example
- Posted by: Alan Feldberg
- Category: News
UK commercial vehicle (CV) production grew by 43.9% in July, with 8,097 new vans, buses, trucks, coaches and taxis rolling off British factory lines.
According to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT), output in July was the highest for the month since 2016, and rounded off the best performing first seven months to a year in a decade, with 58,693 CVs built in Britain so far this year.
Exports continued their double-digit growth this year, with July’s uplift of 34.2% to 4,533 units marking the 11th consecutive month of increased output. Production for the domestic market also grew strongly, rising 58.5% on last year, to 3,564 units.
In 2022 to date, CV production is up 46.9%, at 58,693 units – some 15.6% above the pre-pandemic five-year average.
Mike Hawes, SMMT chief executive, said: “The CV sector continues to provide a shining example of successful UK automotive manufacturing with the best year to date performance since 2012. This is testament to the quality of commercial vehicles made in Britain, which are in high demand at home and abroad. However, the continued success of this export-led sector is not guaranteed, amid some of the toughest economic conditions in living memory. Urgent action is needed to bring down the high energy costs faced by automotive factories if their competitiveness is to be sustained.”