Posted on: August 25, 2016
UK commercial vehicle production falls -5.2% in July to 8,794 units.
14.1% uplift in overseas demand sees almost 5,000 CVs produced for export.
Year-to-date output down -2.7% as market readjusts after strong 2015 performance
UK commercial vehicle (CV) manufacturing fell -5.2% in July, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). The decline follows a remarkably strong performance in July 2015 when production rose by almost 50%.
Last month a substantial rise in overseas demand saw production for export increase by 14.1%, compensating for a -21.3% decline in domestic custom. Overseas output in the year-to-date remains ahead, up 4.4% on the same period in 2015, with more than half (52.6%) of UK-built CVs destined for international markets.
Mike Hawes, SMMT Chief Executive, said, “Despite July’s fall in CV manufacturing, the sector remains strong and output is at a high level. Following last year’s substantial rise in production – the result of market disruption caused by regulatory upheaval – a decline in demand was inevitable and we expect this trend to continue throughout 2016. With the industry highly dependent on exports, maintaining competitive trading conditions and global demand will be vital for future success.”