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Automotive Industry
UK commercial vehicle (CV) production dipped in September, down -5.2% year on year, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). 11,352 vans, buses, trucks, coaches and taxis rolled out of factory gates, with the fall set against a particularly strong September last year, which was the best since 2011.Despite this, and in a sign of the continued improvement of CV production, September 2023 was still 54.2% up on 2019’s pre-Covid 7,363 units.
With a 10.3% increase in orders from UK buyers, 5,124 units were produced for domestic delivery. While exports fell -15.1% to 6,228 units, they still represented more than half (54.9%) of all September output. Continuing the long-term trend, 95.7% of all exports headed into the EU, reinforcing the need for tariff free automotive trade across the Channel.
Despite September’s decline, year-to-date UK CV production is buoyant, rising 11.4% to 85,540 units – 61.1% above the same period in 2019 and representing the best first nine months since 2011.Exports have driven the growth, up 16.9% to 53,017 units. They account for more than six-in-10 CVs made so far this year (62.0%), although production for the UK is also up, by a more modest 3.4%, to 32,523 units.
Mike Hawes, SMMT Chief Executive, said,
"Despite a fall in September, UK CV production is showing strong recovery following the pandemic and subsequent supply shortages that bedevilled factories for months. Robust demand from both the UK and overseas markets, in particular the EU, has driven production with the output being increasingly electrified. However, with tougher Rules of Origin coming into force in January, the prospect of punitive tariffs is a clear and present danger. An urgent and sensible resolution is needed, else both the UK and EU CV industries will face severe competitiveness challenges and consumers increased costs."