Commercial vehicle manufacturing production up26 February 2016

Commercial vehicle manufacturing rose by 24.4% in the first month of 2016, with 6,770 new vans, trucks, buses and coaches made in Britain this January, according to the Society of Motor Manufacturers and Traders (SMMT).

Foreign demand continued to fuel production, with commercial vehicle output for overseas markets showing substantial growth compared with January 2015. Exports were up 65% on the same month last year.

However, production for the UK was down marginally by 1.2%.

Mike Hawes, SMMT chief executive, said: “CV production got off to a great start in January, with output up by a quarter on last year.

“Recovery in Europe continues to benefit the sector, driving production for export up an impressive 65% last month, with more than half of all commercial vehicles in January produced for international markets.”

The UK automotive industry as a whole accounting for more than £69.5 billion turnover and £15.5bn value added.

With some 160,000 people employed directly in manufacturing and more than 799,000 across the wider automotive industry, it accounts for 11.8% of total UK export of goods.

More than 30 manufacturers build in excess of 70 models of vehicle in the UK supported by around 2,500 component providers.

Author
Ian Vallely

Related Companies
SMMT Industry Forum

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