SLUMP: CV production down by 22.1%
Commercial vehicle manufacturing output slumped by 22.1% in February, Society of Motor Manufacturers and Traders’ (SMMT) figures have revealed.
Just 6,235 units were produced last month, marking the eighth successive monthly drop to leave year-to-date volumes down by 18.4%.
The SMMT claim the drop can be attributed to the impact of restructuring.
Mike Hawes, Chief Executive of the SMMT, said: “Early signs of a recovering European market are a glimmer of good news for UK CV manufacturers still feeling the effects of subdued demand and industry restructuring.
“There are still tough months ahead while we work through the pain of the past few years, but if growth in mainland Europe strengthens, there may be light at the end of the tunnel.”