SMMT: UK industrial automobile manufacturing boasts finest February since 2008

UK industrial automobile (CV) manufacturing nearly doubled in February, with 12,927 vans, vehicles, taxis, buses and coaches leaving manufacturing facility traces, in accordance with figures revealed in the present day by the Society of Motor Producers and Merchants (SMMT). The 98.4% uplift in quantity was the most effective February efficiency since 2008¹ and follows a very weak February final yr as provide chain points, notably semiconductor shortages, impacted manufacturing output.²

February’s manufacturing enhance was pushed by important demand for British-built automobiles in abroad markets. Exports elevated by 188.0% to 10,011 models, representing 77.4% of all CVs made within the month, with greater than 9 in 10 (97.6%) destined for the EU. Conversely, output for the home market fell for the second month in a row, down -4.0% to 2,916 models, though this represented a decline of simply 123 automobiles.

Within the yr up to now, 24,683 CVs have been inbuilt Britain, up some 56.4% on the primary two months of 2023. Exports have pushed this progress, up 104.5% to 17,976 models, a rise of 9,184, whereas volumes for the house market have fallen by 279 to six,707.

Mike Hawes, SMMT Chief Government, mentioned,

CV manufacturing has kickstarted the yr with two months of spectacular progress as sturdy abroad demand for British-built vans continues. The problem now could be to take care of this success amidst fierce world competitors, accelerating manufacturing of zero emission automobiles to allow the quick paced supply of those vital fashions. Robust performing economies at dwelling and overseas will probably be key to this ambition.

1 February manufacturing figures, 2008: 20,549 models
2 February manufacturing figures, 2023: 6,491 models; February manufacturing decline, 2023: -21.6%

SOURCE: SMMT