SMMT Reports Commercial Vehicle Production Hits 14-Year Peak Despite August Dip

According to new data released today by the Society of Motor Manufacturers and Traders (SMMT), UK commercial vehicle (CV) manufacturing experienced a decline of 10.0% in August, following an increase in July. A total of 6,044 units were produced in UK factories during this month. However, this decline can be partly attributed to the typical ‘summer shutdown’ during August, resulting in only 673 fewer units compared to the previous year. Year-to-date production is still up 8.8% compared to the pre-pandemic output levels of 2019.¹

Exports continued to play a significant role in the output, with a slight decrease of just 0.2%, representing a year-on-year reduction of only seven vehicles.² More than half of the total production (59.3%) was aimed at international markets, with the EU accounting for the majority at 97.2%. Domestic production, on the other hand, saw a sharp decrease of 21.3%, totaling 2,457 units.

So far this year, UK CV factories have produced 78,805 units, marking a 5.8% increase over 2023 and the best performance recorded in 14 years, despite ongoing supply chain challenges.³ The production levels also represent an impressive 72.3% rise compared to 2019, primarily driven by export growth of 12.0%, resulting in 52,389 units shipped abroad. However, output for the UK market declined by 4.7%, totaling 26,416 units.

Mike Hawes, Chief Executive of SMMT, remarked,

The year-to-date performance being the best since 2010 is excellent news and highlights the commitment of manufacturers along with the strong demand for British-built commercial vehicles in international markets. Although output fell this month, it meets expectations as production levels adjust to the backlog created by the pandemic. To enhance the confidence of both operators and manufacturers, the industry will collaborate with the government to ensure market conditions remain favorable and that decarbonisation continues to be a priority for both cars and commercial vehicles.

SOURCE: SMMT