UK production breaks one million barrier in 2023
- 25/01/2024
- Posted by: Alan Feldberg
- Categories: Featured, News
UK vehicle production hit 1,025,474 units in 2023, according to the figures released by the Society of Motor Manufacturers and Traders (SMMT).
With 905,117 cars and 120,357 commercial vehicles (CVs) produced, output was up 17% on the previous year and topped one million units for the first time since 2019.
Strong December performances for both car manufacturing, up 20.7% year on year, and CV volumes, up 80.3%, rounded off a positive year.
Overall, UK car production rose 16.8% in 2023, its best growth rate since 2010, with the total retail value of all models made coming in at more than £50bn.
Mike Hawes, SMMT chief executive, said, “Receding supply chain challenges, new model introductions and a massive £23.7bn of investment put UK vehicle production firmly back on track in 2023. Industry will now focus on the delivery of these commitments, transitioning the sector at pace to electric and scaling up the supply chain. With global competition as fierce as it has ever been and amid escalating geopolitical tensions, both government and industry must remain singularly focused on competitiveness, with all the jobs and growth this will bring. We are in a much better position than a year ago, but the challenges are unrelenting.”
