CV manufacturing declined 8.9%
UK commercial vehicle manufacturing declined 8.9% in October – the smallest monthly fall since June 2013
It appears that the heavy fall seen in UK commercial vehicle manufacturing over the past year is now levelling off, as the effects of last year’s restructuring only apply to year-to-date figures according to SMMT.
Production for the UK market increased 14.6% in the month, but exports fell 30.6% while 2014-to-date volumes were still affected by last year’s restructuring, falling 23.5% to 57,981 units.
“With new models now being produced in UK plants, production for the home market grew for the first time since June 2013. It remains to be seen if the recent growth in EU demand will continue, but the indications are of greater stability in the months to come.” commented Mike Hawes, SMMT Chief Executive.