The UK’s commercial vehicle manufacturing sector continued its recovery in August, posting a seventh consecutive month of growth, latest figures from the Society of Motor Manufacturers and Traders (SMMT) show. Output for the month rose by 70.3% to 3,628 units, while year-to-date volumes were up 34.1% to 61,595.
Mike Hawes, SMMT Chief Executive said, “In stark comparison to last summer, when some plants took additional seasonal shutdown for retooling, this August saw CV manufacturers post impressive growth. It is particularly encouraging to see the industry continue to bounce back following a 2014 performance subdued by regulatory changes and industry restructuring. Fleet operator renewal patterns are now returning to normal, prompting strong gains in demand in both domestic and export markets.”
|CV manufacturing||Aug-14||Aug-15||% Change||YTD-14||YTD-15||% Change|
CV output – rolling year totals 2008-2015
About SMMT and the UK automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.
The automotive industry is a vital part of the UK economy accounting for more than £69.5 billion turnover and £15.5 billion value added. With some 160,000 people employed directly in manufacturing and in excess of 799,000 across the wider automotive industry, it accounts for 11.8% of total UK export of goods and invests £2.4 billion each year in automotive R&D. More than 30 manufacturers build in excess of 70 models of vehicle in the UK supported by around 2,500 component providers and some of the world’s most skilled engineers.
More detail on UK automotive available in SMMT’s Motor Industry Facts 2015 publication at www.smmt.co.uk/facts15.