October saw a slight decline in UK commercial vehicle (CV) manufacturing, but January to October has seen the most CVs produced in more than 16 years.
Following a strong recovery in September, production fell by 3.9% compared to the same period last year.
Despite the dip, October 2024 was still the second-best October for CV production since 2008, with 12,387 vehicles rolling off production lines. This figure is only 503 units short of the record-breaking October 2023.
Exports continue to be a significant driver for the UK CV industry, with over 60% of vehicles produced in October destined for overseas markets. However, export volumes decreased by 11.6% year-on-year to 7,680 units.
The European Union remains the primary export market, accounting for 97.9% of all exports.
Domestically, CV production increased by 11.9% to 4,707 units.
Year-to-date, the UK CV industry is in a positive position, with a 6.9% increase in production compared to the same period in 2023.
This marks the best 10-month performance in 16 years. Exports have seen double-digit growth, while domestic production has experienced a slight decline.
The SMMT remains optimistic about the future of the UK CV industry, but warns that ongoing global economic uncertainties and supply chain challenges could impact production levels.
Mike Hawes, SMMT Chief Executive, said, “Despite the concerning recent announcements, UK commercial vehicle manufacturers continue to demonstrate resilience, with the sector achieving its strongest 10-month performance since 2008, despite a slight dip in October. Fluctuations in monthly output are inevitable, however, reflecting the realignment of plants and production processes to deliver next generation zero emission vans, trucks and buses."
He added: "Sustained success will hinge on preserving the sector’s global competitiveness, so we must foster the conditions necessary to attract investment which include affordable energy costs, support for the skills transition and robust domestic demand for electrified commercial vehicles that meet operator needs and the targets set out in the UK’s ambitious mandate regulation.”
