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UK commercial vehicle (CV) production in the first quarter of 2024 recorded its best performance since 2008, with a growth of 27.4% to reach 32,626 units.
Export volumes of UK CVs increased by 57.9% in the first three months of 2024, with overseas orders driving the demand. The EU remained the top export destination, accounting for 96.7% of vehicles.
Manufacturing for the UK market, however, declined by 13.1% to 9,566 units in the first quarter of 2024.
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UK commercial vehicle (CV) output rose by 27.4% in the first quarter of 2024, the best Q1 performance since 2008. 32,626 CVs were produced; up 18.6% on pre-pandemic 2019 volumes. |
The growth in CV production in January and February was followed by a decline of 19.2% in March, with output falling to 7,943 units. This was the first monthly decline since September 2023.
Despite the March decline, growth is still expected in the CV production sector for the year, with an independent outlook projecting light van production volumes to exceed 135,000 units, driven by the ramping up of electric vehicle output.
Exports of UK CVs rose by 57.9% in the first three months of 2024. This translates to an increase of 8,452 vehicles, bringing the total export volume to 23,060 units.
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MARKET SHARE 36.0% Home 64% Export |
The export market accounted for a substantial portion of the overall CV production. In the first quarter of 2024, exports represented 70.7% of the total output, up from 57.0% in the same period of the previous year (Q1 2023).
The European Union (EU) remained the primary export market for UK CVs. More than nine out of ten vehicles (96.7%) were destined for the EU. This highlights the continued demand for British-built commercial vehicles in the EU market.
The growth in exports can be attributed to the demand for the latest cutting-edge and increasingly zero-emission British-built CVs. This suggests that there is a global demand for environmentally friendly commercial vehicles manufactured in the UK.
Mike Hawes, SMMT Chief Executive, said,
“It’s good to see UK CV production record its best Q1 performance in some 16 years, success testament to the determination of manufacturers to deliver for this vital sector, while investing in the latest cutting edge, ultra low and zero emission technology. Global demand continues for British-built commercial vehicles, emphasising the need for favourable market conditions to sustain our production capabilities for increasingly green vehicles. This means reducing energy costs, upskilling our workforce and maintaining free and fair trade deals, the result of which will allow us to attract further investment to improve productivity and decarbonise automotive manufacturing and its supply chain.”
