UK CV manufacturing up 19%
UK commercial vehicle (CV) manufacturing increased by almost a fifth (19.0%) in April 2018, according to figures published by the Society of Motor Manufactures and Traders (SMMT).
7,299 CVs were built in Britain last month as a rise in overseas demand boosted production.
Production for export in the month increased by 28.5%, with more than seven in 10 CVs destined for international markets. Meanwhile, demand from domestic fleets remained stable, up 0.9 per cent, with 2,124 vans, trucks and buses produced for UK customers.
Year-to-date production figures remain down, falling -10.2% on 2017, with manufacturing for both domestic and overseas markets declining -21.1% and -4.3 per cent respectively. However, in line with the monthly figures, exports continue to account for the lion’s share of production, at 68.8%.
Mike Hawes, SMMT chief executive, said, ‘While it is positive to see an increase in CV production, given the fluctuating nature of fleet buying cycles, caution is advised when making month-by-month comparisons. However, today’s figures highlight just how dependent the industry is on production for export, particularly to the EU – our largest customer.’