UK business car (CV) manufacturing dipped in September, down -5.2% yr on yr, in response to the most recent figures revealed at present by the Society of Motor Producers and Merchants (SMMT)
UK business car (CV) manufacturing dipped in September, down -5.2% yr on yr, in response to the most recent figures revealed at present by the Society of Motor Producers and Merchants (SMMT). 11,352 vans, buses, vans, coaches and taxis rolled out of manufacturing unit gates, with the autumn set in opposition to a very sturdy September final yr, which was one of the best since 2011.1 Regardless of this, and in an indication of the continued enchancment of CV manufacturing, September 2023 was nonetheless 54.2% up on 2019’s pre-Covid 7,363 models.
With a ten.3% improve in orders from UK patrons, 5,124 models have been produced for home supply. Whereas exports fell -15.1% to six,228 models, they nonetheless represented greater than half (54.9%) of all September output. Persevering with the long-term pattern, 95.7% of all exports headed into the EU, reinforcing the necessity for tariff free automotive commerce throughout the Channel.
Regardless of September’s decline, year-to-date UK CV manufacturing is buoyant, rising 11.4% to 85,540 models – 61.1% above the identical interval in 2019 and representing one of the best first 9 months since 2011.2 Exports have pushed the expansion, up 16.9% to 53,017 models. They account for greater than six-in-10 CVs made up to now this yr (62.0%), though manufacturing for the UK can be up, by a extra modest 3.4%, to 32,523 models.
Mike Hawes, SMMT Chief Govt, stated,
Regardless of a fall in September, UK CV manufacturing is exhibiting sturdy restoration following the pandemic and subsequent provide shortages that bedevilled factories for months. Strong demand from each the UK and abroad markets, specifically the EU, has pushed manufacturing with the output being more and more electrified. Nevertheless, with harder Guidelines of Origin coming into pressure in January, the prospect of punitive tariffs is a transparent and current hazard. An pressing and wise decision is required, else each the UK and EU CV industries will face extreme competitiveness challenges and shoppers elevated prices.
1: September 2011 – 12,046 models
2: Jan-Sep 2011 – 89,026 models