SMMT News UK Manufacturing

Steady February for CV manufacturing as exports drive demand

24 March 2016 #SMMT News #UK Manufacturing
  • Modest 1.5% growth for British commercial vehicle manufacturing in February.
  • Production for export up by a fifth, outweighing a 13.2% fall in output for the domestic market.
  • CV manufacturing up 10.5% in the first two months of 2016 compared with the same period last year.

24 March, 2016 British commercial vehicle manufacturing made moderate gains in February with overall output up 1.5% over the same month last year, according to new figures from the Society of Motor Manufacturers and Traders (SMMT). For the second month in a row, a sharp lift in overseas demand, up 19.9%, offset a 13.2% fall in production for UK buyers. Following a strong January, production for the year so far is up 10.5% over the equivalent 2015 period.

Mike Hawes, SMMT Chief Executive, said, “February’s positive CV output, while more subdued than in January, continued to reflect buoyant demand for British-built vans, trucks, buses and coaches. Once again, the ongoing recovery in European markets was the driving factor, with output for export growing for the seventh consecutive month, and up by more than a third for the year to date.”

CV Manufacturing table _Feb16

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