Decline In Commercial Vehicle Production After 11 Months Of Rise

According to the most recent numbers, commercial vehicle production in the United Kingdom fell by more than 20% in February.

According to the Society of Motor Manufacturers and Traders (SMMT), 6,491 vehicles exited factory gates in the second month of the year, a 21.6 per cent decrease after 11 months of uninterrupted rise in 2022, omitting December, and a strong January performance.

In February, the quantity of CVs produced for export markets fell by 18.6% to 3,460 units, with around 90.3% headed for the EU. Domestic output fell even more, at 24.7 per cent to 3,031 units.

To date, 15,790 units have been built, a 4.3 per cent increase over the first two months of 2022.

In 2023, however, the number of vehicles produced for consumers in the UK and abroad fell in February, with domestic output falling by nearly a quarter (24.7 per cent). However, with only 3,000 vehicles manufactured for UK clients, the domestic market accounts for less than half of all new commercial vehicles manufactured in the UK. However, with the number of vehicles constructed for foreign clients down 18.6 per cent to 3,460, output was still much lower.

Yet, output in the first two months of 2023 remained much higher than output in the same period last year. More than 15,790 new commercial vehicles were constructed in the UK during the first two months of the year, up 4.3 per cent from the start of 2022, thanks to a strong January.

Although growth has come from both domestic and export markets, the majority of the rise is due to a 7.2% increase in the number of vehicles made for overseas consumers.