Exports for remanufactured engines surges by 70 per cent, Ivor Searle reports

Engine remanufacturer raises production capacity to 130 engines per week with potential for further expansion in 2023

Exports for remanufactured engines surges by 70 per cent, Ivor Searle reports

Engine remanufacturer, Ivor Searle, has reported record exports as a result of growing demand for its superior-quality remanufactured engines for light commercial vehicles.

Over the past twelve months, the Cambridgeshire-based firm, which has been remanufacturing engines since 1946, has seen a major strengthening of demand from customers in the EU and Baltic states, resulting in growth of 70%.

With a particular focus on the export of light commercial engines, such as the Ford Transit 2.2 diesel unit, Ivor Searle predicts that more than 20% of the company’s total turnover will come from overseas trading in 2023, equating to more than £3million.

Having achieved overall growth of 35% in remanufactured engine sales year on year, Ivor Searle has raised its production capacity to 130 engines per week, with the potential for further expansion in 2023.

Commenting on the company’s increased export performance, Ivor Searle’s Commercial Director, David Eszenyi, said: “Having established a reputation for quality and customer service in the UK, we have seen a significant uplift in demand from customers across the EU and Baltic states needing to source remanufactured engines quickly.

“This is due in part to the ongoing problems with new vehicle production, as a shortage of semiconductors and supply chain challenges persist, meaning that businesses keep hold of their vans for longer and residual values remain strong.

“As issues arise, a remanufactured unit is therefore the most cost-efficient and fastest option to getting the vehicle back on the road.

“Having invested in expanding our production, Ivor Searle is well positioned to export engines from stock.

“We expect next year to be even busier, as awareness of our service builds.”

The automotive parts remanufacturing market in Europe is expected to reach €20 billion by the end of 2024, as diesel vehicles constitute the highest proportion of cars and vans across Europe.

According to its report, Automotive Parts Remanufacturing Market: Europe Industry Analysis and Forecast 2016-2024, Persistence Market Research projects that Europe’s vehicle parts remanufacturing market will continue to grow by up to 10 per cent annually.

By the end of 2024, the report predicts the number of remanufactured products will surpass 56 million per year.

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