While many of us might have taken leave this week and are facing ‘back-to-work’ blues for the start of September, today’s a good news day for the industry with SMMT’s latest commercial vehicle production figures. A temporary slowdown appears to be ending thanks to an easing of supply chain challenges, and ongoing overseas demand for British-built vans, trucks and buses. July 2024 – just before the traditional ‘factory fortnight’ – delivered the best performance we’ve seen for the month since 2008, with more than 15,000 units rolling off factory lines.
A 71.7% surge will be most welcome after four months of decline and means output is up on the same period last year. Exports continue to grow too, almost all of which are to the EU – fitting, given this week saw the PM in Germany in efforts to reboot our relationship with one of our most important economic partners.
That German connection will continue over the next month, with SMMT members exhibiting at Automechanika Frankfurt, showcasing our world class capabilities in the automotive supply chain and aftermarket sectors, and of course, later next month is IAA Transportation in Hannover, a red letter day in the European CV calendar. International demand for British-built vehicles and components remains robust – and the next part of the puzzle will be to maintain favourable trading conditions and boost our competitiveness. The UK already boasts several unique advantages, not least an increasingly robust record in zero emission CV production across multiple vehicle types. With business back to work in earnest next week, government and industry should be ready and refreshed to drive success for the rest of the year.
