CV production continues strong recovery
- Posted by: Alan Feldberg
- Category: News
UK commercial vehicle (CV) production increased to 6,243 units in May, significantly higher than May 2020 but also 2.2% higher than the five-year average for the month.
According to the Society of Motor Manufacturers and Traders (SMMT), year-to-date commercial vehicle production has increased by 28.5% on 2020 to 28,510 units, driven chiefly by a rise in domestic demand, up 48.4%.
While the domestic share of production continues to increase, the share of exports has fallen from 56.3% in 2020 to 49.5% this year.
Mike Hawes, SMMT chief executive, said: “May’s figures were always set to be exponentially higher than last year, as factories were forced to operate under limited capacity, or closed entirely. There was, however, some good news as production during the month surpassed pre-pandemic levels of output. For a full recovery, however, we need increased confidence not just in the domestic market but in overseas markets as well.”