UK CV manufacturing increase
UK commercial vehicle (CV) manufacturing increased by 12.8% in July 2018, according to figures published by the Society of Motor Manufacturers and Traders (SMMT).
7,331 vans, trucks, buses and coaches were built in Britain last month, as overseas demand continued to drive output.
While CVs produced for the home market fell -5.8 per cent in the month to 2,729 units, production for export more than compensated, rising 27.8%. 4,602 vehicles were shipped to global customers in the month, accounting for 62.8% of British CV manufacturers’ output.
In the year to date, the number of commercial vehicles built for export grew 3.4 per cent. However, this was not enough to offset a -13.5% decline in output for the UK where fluctuating buying cycles and business uncertainty continue to influence the market.
Mike Hawes, SMMT chief executive, said, ‘Almost seven in 10 commercial vehicles manufactured in the UK are destined for overseas customers, the majority in the EU. Global appetite for the high-tech, ultra low and zero emission vehicles we produce is driving demand so it is crucial we secure the right conditions for future trade with our biggest market, the EU, including retaining the benefits of the single market and membership of the customs union.’