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CV Production soars by 71.7% in the best July in 16 years, bouncing back after a tough four months.
Van insurance premiums rose by 24.7% in the 12 months to June. The figures from the latest Consumer Intelligence Van Insurance Price Index show prices have only increased 2.7% in the past three months – the lowest increase for the past five quarters, following the previous quarterly increase of 3.3%.
The UK’s commercial vehicle output soared in July, hitting a massive total of 15,252 new vehicles registered.
It’s been a great summer for the UK’s commercial vehicle production industry. July figures wrapped up with a 71.7% increase year on year for number of CV registrations. This is great news for the industry, effectively reversing four months of decline. The increase resulted in the best July performance in 16 years and a 201.8% increase on pre-pandemic July 2019 volumes.
Growth in the month was driven by easing supply chain challenges and ongoing demand from overseas markets – which grew 76.8% to 9,534 units. Exports accounted for 62.5% of all vehicles produced in the month, with the EU taking the lion’s share and nearly all exports (99.1%).
The domestic market also recorded double-digit growth, rising by 63.7% to 5,718 units.
