Surge in UK demand drives strong CV production growth in July
By Kyle Lindsay
Friday, August 21, 2015 - 14:00
Britain’s commercial vehicle manufacturing industry continued its strong recovery in July, with production volumes up 46.3% over the same month last year. A total of 9,274 CVs were built in the month, with output for the UK market posting an especially strong gain of 137.6%.
July’s figures are a continuation of the recovery made by the sector throughout 2015, which has seen production levels grow by a third to 57,967 units. Volumes last year were impacted by some restructuring within the industry, as well as a spike in truck demand in 2013 related to type approval changes. This year’s growth comes off the back of increasing demand both domestically and abroad for UK-built CVs.
“The commercial vehicle manufacturing sector’s impressive performance in July is further welcome evidence of its ongoing return to form,” said Mike Hawes, SMMT Chief Executive. “After a difficult year of regulatory upheaval, we’re now seeing demand for British-built vans, trucks and buses bounce back as fleet renewal patterns return to normal and the online delivery market continues to grow.”
|CV manufacturing||Jul-14||Jul-15||% Change||YTD-14||YTD-15||% Change|
CV output – rolling year total
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.