3.1 C
New York
Tuesday, March 21, 2023

SMMT: Greatest yr in a decade for UK CV manufacturing

British industrial automobile manufacturing grows by 39.3% to 101,600 items in 2022, the very best annual efficiency since 2012

UK industrial automobile (CV) manufacturing grew 39.3% in 2022, with 101,600 vans, vans, taxis, buses and coaches leaving manufacturing unit traces, in response to the most recent figures printed at present by the Society of Motor Producers and Merchants (SMMT). Closing off the yr, turbulence in international provide chains and logistics points noticed December publish 2022’s first month-to-month decline, as output fell -23.6% to 4,710 items after 11 months of consecutive progress.

However, the sector recorded its greatest annual output since 2012, up 29.8% on 2019’s pre-pandemic manufacturing figures – testomony to the resilience of CV producers in assembly demand regardless of international half and element shortages, logistics challenges, and financial and political disruption.1

Output for the home market rose by 14.0% year-on-year to 40,409 items, however general progress was pushed largely by export demand, with autos constructed for abroad markets up 63.4% to file their highest share of manufacturing (60.2%) since 2017.2 Europe was undoubtedly the UK CV sector’s largest abroad buyer, accountable for 92.8% of all whole exports (56,812 items).3 In the meantime, 1,336 CVs had been shipped to Asia, 1,240 went to the US, and 1,060 to Australia and New Zealand mixed.

Mike Hawes, SMMT Chief Government, stated,

British CV manufacturing’s greatest annual efficiency in a decade is testomony to the willpower and agility of the sector, which continued to satisfy sturdy demand regardless of extraordinarily difficult working circumstances. Nonetheless, long-term success is contingent on the sector’s skill to stay aggressive within the international race to web zero. Help to carry down hovering power prices, encourage funding in zero emission applied sciences, and equip our proficient workforce with the precise abilities to ship these autos, might be important in retaining the nation and financial system on the transfer.

Looking forward to 2023, volumes are anticipated to develop considerably, notably on the again of latest mannequin exercise and a rise in electrical van manufacturing. This increase is about to see manufacturing surpass 160,000 items in 2023.4

1 Full-year 2012 manufacturing figures: 112,039 items – Full-year 2019 CV manufacturing figures: 78,270 items
2 2017 export share: 62.5%
3 Full-year export figures for Europe: 56,812 items
4 Primarily based on SMMT improvement of AutoAnalysis gentle automobile outlook


Related Articles


Please enter your comment!
Please enter your name here

Latest Articles