29 November 2018
- CV production in the UK rises 31.0% in October, to 9,066 units.
- Demand from both export and home markets grows, 7.7% and 61.9% respectively.
- Year-to-date performance broadly stable, up 2.5% on the same period last year.
British commercial vehicle (CV) manufacturing grew 31.0% in October, with 9,066 vans, trucks, buses and coaches leaving production lines, according to figures published today by the Society of Motor Manufactures and Traders (SMMT).
Production for the UK saw a substantial 61.9% boost, with increased demand for UK-built models resulting in 4,815 units built. Meanwhile, 4,251 CVs were built for export, a 7.7% increase compared with the same month last year.
In the year to date, output remains broadly stable, up 2.5% on the same period in 2017 to almost 70,000 units. Manufacture for both the home and global markets has grown overall, by 3.5% and 1.8% respectively. UK manufacturing continues to rely on customers across the world, with production for export making up 61.2% of factory output so far this year.
Mike Hawes, SMMT Chief Executive, said,
Caution is always advised when making monthly comparisons in the CV sector, as naturally variable buying cycles can make a big impact. However, it is positive to see growth, albeit moderate, over the year so far. The proportion of CVs built for global markets remains at almost two thirds of UK output, with the majority destined for the EU. If growth is to continue, maintaining frictionless trade with our largest customer will be essential.