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British Commercial Vehicle Manufacturing Off To A Flying Start For 2023

UK COMMERCIAL VEHICLE MANUFACTURING OFF TO A GREAT START FOR 2023

New data from SMMT (Society of Motor Manufacturers and Traders) suggests a very strong start to 2023 for British manufacturing.

The pandemic in 2020 caused a drop in both the domestic market and exports, with output significantly reduced thanks to factories and shop floors closing. Industries across the board then had to contend with supply chains that were working hard to cover the backlog from these closures. After a record low in 2021, total CV output has seen healthy growth up to its current peak in January of 2023.

 

 

PRODUCTION GREW 35.6% IN JANUARY 2023 COMPARED TO JANUARY 2022

  

 

According to figures from SMMT (Society of Motor Manufacturers and Traders), 9299 vans, trucks, taxis, buses and coaches were completed in January 2023. This is the strongest start to a year since 2012, which remains the most successful year with 9844 units produced.

 

CV Manufacturing Home Vs Export Pie Chart.jpg

 

Jan 2023

Home: 3973 (43%)

Export: 5326 (57%)

  

Exports account for more than half of the growth, with Britain exporting almost 6 out of every 10 vehicles it produces (57.3%). In January, a total of 5,326 vehicles left the UK to be shipped overseas. This is an increase of 35.1% compared to figures for the same period of 2022. The EU remains the UK’s biggest customer, with over 91.8% of vehicles exported ending up in Europe.

Here at home, 3,973 vehicles that were manufactured in Britain remained here. This is a greater increase compared to exports, with the percentage increase at home reaching 36.2%.

 

 

SMMT Jan 2023 New CV Manufacturing Infographic.jpg