UK COMMERCIAL VEHICLE MANUFACTURING
29 August 2024 (data for July)
Hi-res charts available via Dropbox: https://www.dropbox.com/scl/fo/ubwlyo34jo3cfvrk0i3n8/ALfE7QDZnk_86XUr7zKZWlA?rlkey=w03e0q8lxeyhzcruib8vlsity&st=vdkx29ko&dl=0
- Commercial vehicle output soars 71.7% in best July since 2008.
- Demand grows at home and overseas, up 63.7% and 76.8% respectively.
- Year-to-date output rises 7.3%, now up 81.1% on pre-pandemic 2019.
Thursday 29 August, 2024 UK commercial vehicle (CV) manufacturing output soared 71.7% in July to reach 15,252 units, reversing four months of decline, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The increase resulted in the best July performance in 16 years and a 201.8% increase on pre-pandemic July 2019 volumes.1
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.
The sector’s first monthly uptick since February sees year-to-date commercial vehicle production up by 7.3% on the same period in 2023 to 72,761 units – a healthy gain of 4,971 units and an 81.31% increase on pre-pandemic 2019.2
Mike Hawes, SMMT Chief Executive, said, “An end to recent supply chain disruption signals a return to growth for the UK’s commercial vehicle sector, and significant growth at that. Sustaining strong global demand for British-built vans, trucks and buses, which are increasingly zero emission, now depends on maintaining favourable trading conditions, creating healthy markets at home and boosting UK competitiveness on the global stage.”
Notes for Editors
SMMT data is subject to periodical revision if additional information becomes available. CV production data for July 2023 and YTD 2024 has been revised accordingly.
1 CV production, July 2008: 20,997 units; CV production, July 2019: 5,054 units
2 CV production, Jan – Jul 2019: 40,184 units
About SMMT and the UK automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations, representing the automotive industry in the UK.
The automotive industry is a vital part of the UK economy, integral to growth, the delivery of net zero and the UK as a global trade hub. It contributes £93 billion turnover and £22 billion value added to the UK economy, and invests around £4 billion each year in R&D. With 198,000 people employed directly in manufacturing and some 813,000 across the wider automotive industry. Many of these automotive manufacturing jobs are outside London and the South-East, with wages that are around 13% higher than the UK average. The sector accounts for 12% of total UK exports of goods with more than 140 countries importing UK produced vehicles, generating £115 billion of trade in total automotive imports and exports.
The UK manufactures almost every type of vehicle, from cars, to vans, taxis, trucks, buses and coaches, as well as specialist and off-highway vehicles, supported by more than 2,500 component providers and some of the world’s most skilled engineers. In addition, the sector has vibrant aftermarket and remanufacturing industries. The automotive industry also supports jobs in other key sectors – including advertising, chemicals, finance, logistics and steel.
More detail on UK Automotive available in SMMT’s Motor Industry Facts publication at www.smmt.co.uk/reports/smmt-motor-industry-facts/
Broadcasters: SMMT has an ISDN studio and access to expert spokespeople, case studies and regional representatives.
SMMT media contacts
Paul Mauerhoff | 07809 522181 | pmauerhoff@smmt.co.uk |
James Boley | 07927 668565 | jboley@smmt.co.uk |
Rebecca Gibbs | 07708 480889 | rgibbs@smmt.co.uk |
Scott Clarke | 07912 799959 | sclarke@smmt.co.uk |
Emma Butcher | 07880 191825 | ebutcher@smmt.co.uk |