CV output highest for decade
2023 UK commercial vehicle (CV) production grew 39.3% in 2022, with 101,600 vans, trucks, taxis, buses and coaches leaving factory lines, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).
Closing off the year, turbulence in global supply chains and logistics issues saw December post 2022’s first monthly decline, as output fell -23.6% to 4,710 units after 11 months of consecutive growth.
Nevertheless, the sector recorded its best annual output since 2012, up 29.8% on 2019’s pre-pandemic production figures.
Output for the domestic market rose by 14.0% year-on-year to 40,409 units, but overall growth was driven largely by export demand, with vehicles built for overseas markets up 63.4% to record their highest share of production (60.2%) since 2017.
Europe was the UK CV sector’s biggest overseas customer, responsible for 92.8% of all total exports (56,812 units). Meanwhile, 1,336 CVs were shipped to Asia, 1,240 went to the US, and 1,060 to Australia and New Zealand combined.
