CV production the highest for a decade
- Posted by: Alan Feldberg
- Categories: Featured, News
UK commercial vehicle (CV) production grew by 10.7% in October, with 8,740 vans, buses, trucks, coaches and taxis rolling off British factory lines.
The Society of Motor Manufacturers and Traders (SMMT) reported that output in October was the highest for the month since 2019, as production volumes increased to round off 10 consecutive months of growth this year.
Exports continued their double-digit rise, increasing by 50.2% to 5,905 units, although production for the UK fell sharply, down 28.4% compared with the same month last year.
Overall production is up 45.5% year-to-date, with 85,547 CVs built in Britain since January making 2022’s performance so far the best 10 months of a year since 2012 and some 19.3% higher than the pre-pandemic five-year average.
Mike Hawes, SMMT chief executive, said: “Another month of growth for CV manufacturers is good news for the wider industry as it shows how the UK is well placed to build high-quality vehicles which support jobs, growth and exports. While the industry looks to 2023 with some optimism, we cannot be complacent as sustained long-term growth is dependent on favourable operating conditions and a competitive framework for automotive manufacturing.”