Double Digit Export Growth Keeps Commercial Vehicle Production Stable
By Maddy Price
Thursday, October 27, 2016 - 13:31
UK commercial vehicle (CV) manufacturing saw a slight decline in September, according to latest figures from the Society of Motor Manufacturers and Traders (SMMT). 9,742 CVs were built in Britain last month, down -0.7% compared with September 2015, when production more than doubled.
A significant increase in overseas demand, driven by ongoing recovery in continental European markets, saw production for export rise 16.5%, counterbalancing an -18% fall in output for the home market, a trend seen through 2016 following a particularly busy year for fleet renewal in 2015.
Mike Hawes, SMMT Chief Executive, said, “The drop in production last month comes as no surprise following the regulatory changes last year which significantly altered fleet renewal patterns. Despite the decline, the sector is broadly stable, with output remaining at a high level. Maintaining the competitive trading conditions currently delivered through membership of the single market and which underpin the strength of the sector will be critical to future performance.”