UK commercial vehicle (CV) production returned to growth in October following a September decline, rising 47.1% year on year, according to the Society of Motor Manufacturers and Traders (SMMT).
A total of 12,853 vans, buses, trucks, coaches and taxis rolled off British assembly lines, up 4,113 units on last year for the best percentage gain of the year.
In a sign of the significance of the recovery, the increase was the best October tally since 2008, up 41.4% on pre-pandemic 2019 output.
October 2023 production was driven by exports, up 47% year on year to 8,680 units as 67.5% of output was shipped abroad. The EU was the largest international market, as usual, receiving 96% of the month’s exports.
Home market orders rose 47.2% to 4,173 CVs.
Year to date (YTD), output rose 15.3% to 98,610 units, up 58.6% on YTD 2019 and the best 10 month tally since 2011.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataExports continued a double digit rise, rising 21.4% to 62,229 units while home market production was up 6.1% to 36,381 units.
SMMT chief executive Mike Hawes said: “A return to growth after September’s dip highlights the sector’s resilience.”
The SMMT said its latest “independent” production outlook projected UK light commercial vehicle plants would see a 34.2% increase (27,293 units) in full year output versus 2022, manufacturing 107,000 LCVs this year.
Further growth is expected in 2024.