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UK business car (CV) manufacturing grew 35.6% within the first month of 2023, with 9,299 vans, vehicles, taxis, buses and coaches leaving manufacturing facility traces, in line with figures printed as we speak by the Society of Motor Producers and Merchants (SMMT)
UK business car (CV) manufacturing grew 35.6% within the first month of 2023, with 9,299 vans, vehicles, taxis, buses and coaches leaving manufacturing facility traces, in line with figures printed as we speak by the Society of Motor Producers and Merchants (SMMT). January’s sturdy output marks one of the best begin to a yr since 2012, when 9,844 items have been produced, and displays the willpower of producers to get again on monitor following the pandemic and latent provide chain challenges.
Development within the month was pushed primarily by exports, with 5,326 items produced for worldwide markets. Greater than half of all British-built CVs (57.3%) set sail for overseas, with the EU, which stays the UK’s largest abroad buyer, accountable for 91.8% of those exports.1 The home market additionally recorded progress, with output up 36.2% to three,973 items.
Volumes are anticipated to extend considerably all year long, notably as new fashions start manufacturing and a significant new electrical van manufacturing plant comes on stream – a lift which is about to see UK CV output surpass 160,000 items in 2023.2
Mike Hawes, SMMT Chief Govt, stated,
The UK’s business car sector continues to indicate resilience, surpassing the earlier ten years of January output even within the face of world provide shortages and hovering power prices. To make sure this success continues, we’d like a framework which secures globally aggressive circumstances and underpins the supply of sustainable manufacturing, speedy decarbonisation and financial progress to maintain Britain forward within the race to web zero.
1. January export figures for Europe: 4,891 items
2. Based mostly on SMMT growth of AutoAnalysis mild car outlook
SOURCE: SMMT
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