- May UK commercial vehicle (CV) output increases 13.8% to 7,748 units.
- Home market drives growth, with demand rising 23.5% compared with the same month in 2014.
- Exports grow 5.7% as European economic recovery continues.
UK CV manufacturing volumes rose last month, with output growing 13.8% to 7,748 units, according to figures published today by SMMT. The home market drove output, with demand up almost a quarter, while production for export also enjoyed substantial gains, putting the overall sector up by 2.7% in the year to date.
The news comes as European commercial vehicle markets reported a 17th month of growth as the region continued its economic recovery. New commercial vehicle registrations in Europe grew 16.4% in May, with the market up 13.5% for the first five months of 20161.
Mike Hawes, SMMT Chief Executive, said, “It’s good to see UK commercial vehicle manufacturing performing strongly in May which puts it on track for a positive 2016. The commercial vehicle market is linked to economic confidence in the UK and Europe, with 88% of UK-built CV exports shipped to the continent last year. For this performance to continue, we need to ensure we maintain free access to our main markets as well as pursuing new global opportunities.”
Download the May 2016 commercial vehicle manufacturing release as a Word document.
