CV Sector News Sales Truck Van

Commercial vehicle production down once again in February

20 March 2014 #CV Sector #News #Sales #Truck #Van

Commercial vehicle production in the UK was down for the eight successive month in February as restructuring in the sector continued.

Latest figures from the Society of Motor Manufacturers and Traders show a total of 6,235 units were produced last month, 22.1% down on February 2013. Year-to-date volumes are 18.4% adrift of the same point last year at 12,916.

“Early signs of a recovering European market are a glimmer of good news for UK CV manufacturers still feeling the effects of subdued demand and industry restructuring,” said Mike Hawes, SMMT Chief Executive.

“There are still tough months ahead while we work through the pain of the past few years, but if growth in mainland Europe strengthens, there may be light at the end of the tunnel.”

Production for the domestic market was down 28.9% in February compared with a 14.8% fall in export builds. Year-to-date domestic demand is also harder hit than exports so far with a 23.4% fall contrasting with a 12.8% drop for markets outside of the UK.

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