What a difference a year makes – July CV production down 5.2 per cent

Thursday 25th August 2016 | 0 Comments

 

SMMT figures reveal that UK commercial vehicle (CV) manufacturing fell

-5.2 per cent in July. The decline shows a marked difference to last year’s figures, when a remarkably strong performance in July 2015 saw production rise by almost 50 per cent.

Last month a substantial rise in overseas demand saw production for export increase by 14.1 per cent, compensating for a -21.3 per cent decline in domestic custom. Overseas output in the year-to-date remains ahead, up 4.4 per cent on the same period in 2015, with more than half (52.6 per cent) 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.”

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Category: News, UK News