Bus & Coach Bus and Coach CV Sector SMMT News TNB News Truck UK Manufacturing Van

UK CV manufacturing grows by 8.5% in 2018

31 January 2019 #Bus & Coach #Bus and Coach #CV Sector #SMMT News #TNB News #Truck #UK Manufacturing #Van
  • British commercial vehicle manufacturing increases 8.5% in 2018, following two years of decline.
  • Demand grows at home and overseas, rising 17.9% and 2.9% respectively.
  • Nearly six in 10 UK built CVs exported to global markets last year.

British commercial vehicle manufacturing grew 8.5% in 2018, with 84,888 units leaving production lines, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). The increase in output follows weaker performances in 2016 and 2017, while strong market incentives ahead of model changes also played a part in boosting output.

Domestic demand increased by 17.9% last year, with an additional 5,248 CVs built for UK operators. Meanwhile, exports grew, up 2.9% to 50,320 units. Almost six out of every 10 vans, trucks, taxis and buses built in the UK in 2018 were exported, with some 93.6% of those going to the EU and 2.3% destined for Asian markets.

December finished the year on an exceptional high, with commercial vehicle output up 79.2% as production for home and exports experiencing significant increases, up 175.6% and 40.1%. While the rise in production is considerable, it follows two years of decline in the month and a slow start to 2018, illustrating the dangers of drawing conclusions from a single month’s performance.

Mike Hawes, SMMT Chief Executive, said,

Commercial vehicle production ended 2018 on a very positive note, with strong deals ahead of some important model changes securing significant growth in December resulting in a boost to annual volumes. The boost follows two years of declining output, and low volumes at the beginning of the year. With Europe accounting for more than nine out of every 10 commercial vehicles we export, it is clear that maintaining a beneficial trading relationship with the EU is critical. This means securing a deal that will allow this vital sector to continue to thrive.

Filter News

Update Newsletter