Total CV manufacturing output down – but exports remain strong24 March 2017

UK commercial vehicle manufacturing declined in February to 7,940 units – a drop of 6.3%. That’s according to figures released yesterday (23 March) by the Society of Motor Manufacturers and Traders.

The fall in output follows strong performances in 2016 and 2015. Overall, CV manufacturing remains steady and is up by 1.3% for the first two months of 2017, compared with the same period last year.

Export demand is high and increased by more than 15% last month – although this was countered by a fall in production of 30% for the domestic market.

SMMT says nearly two thirds (64.8%) of UK-built CVs were destined for international markets last month, and in the year to date demand is up by more than a quarter.

Mike Hawes, SMMT chief executive, says the slight decline in CV manufacturing “comes as no surprise”, after two years of very high output.

“Despite this,” he adds, “UK CV production remains broadly stable, with output for export growing for the sixth consecutive month, highlighting the importance of maintaining competitive global trading conditions to this vital sector.”

Author
Laura Cork

Related Companies
Society of Motor Manufacturers and Traders Ltd

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