CV manufacturing hits 11-year high
- Posted by: Alan Feldberg
- Category: News
British commercial vehicle (CV) manufacturing grew 8.6% to 6,600 units.
According to the Society of Motor Manufacturers and Traders (SMMT), this is the best August volume for 11 years continues the positive trend, with a fifth consecutive month of rising CV output.
Increased output was driven primarily by UK demand, up 24.4% to reach 3,066 units, while exports declined by two per cent to 3,594 – although exports made up 54% of all output last month.
In the year to date, UK CV manufacturing has reached 74,188 units, a rise of 14.4% on 2022.
Mike Hawes, SMMT chief executive, said: “2023 has been a success story for British commercial vehicle production, with robust demand from operators in the UK and overseas. With new electric van production now coming on stream, the immediate future is positive and we expect volumes to grow still further this year.
“To secure future investment, however, we need regulatory and trade certainty, not least a UK-EU agreement to delay tougher rules of origin that would damage competitiveness across the Channel. With the tougher rules due to commence in less than 100 days, time is of the essence.”