UK commercial vehicle (CV) production rises 43.9 per cent to 8,097 units in the best July since 2016 and eleventh consecutive month of growth.
UK Production Hits Six-Year High in July
UK commercial vehicle (CV) production grew by 43.9 per cent in July, with 8,097 new vans, buses, trucks, coaches and taxis rolling off British factory lines, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Output in July was the highest for the month since 2016 and rounded off the best performing first seven months to a year in a decade with 58,694 CVs built in Britain so far this year.
Exports continued their double-digit growth this year, with July's uplift of 34.2 per cent to 4,533 units marking the eleventh consecutive output. Production for the domestic market also grew strongly, rising 58.5 per cent on last year, to 3,564 units. In 2022 to date, CV production is up 58,693 units some 15.6 per cent above the pre-pandemic five-year average. This is a result of continued robust demand from fleet operators and the capacity of Britain's CV manufacturers to deliver for home and overseas markets, despite significant global supply constraints and domestic economic challenges.
Bus, coach and heavy vehicles (HGV), van and taxi manufacturers are continuing to invest in production of the latest zero emission vehicles amid growing demand from operators, and new funding from the £140 million Zero Emission Road Freight programme's competition for hydrogen and electric HGV demonstartions should have a positive impact on the scale-up of production in one part of this diverse sector. However, to ensure current levels of output are sustained across the industry, which has an essential role to play both in UK decarbonisation and economic recovery, soaring inflation and business energy costs must be tackled urgently if Britain is to remain globally competitive.