- British commercial vehicle manufacturing declines -11.3% in May to 6,875 units.
- Increased demand from resurgent European markets see exports grow by 11.5%.
- Year-to-date output declines -8.7%, with export growth unable to offset home market losses.
British commercial vehicle (CV) production output fell in May as an increase in production for export failed to counteract a drop in domestic demand, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). 6,875 vans, trucks, buses and coaches were built in the UK last month, a -11.3% year on year decline.
Production for the domestic market fell -34.6% in the month, as the market continued to rebalance following high levels of UK demand in the previous year and fleet buying cycles affected the timing of monthly production volumes. Meanwhile, demand from overseas markets grew 11.5%, with the proportion of CVs built for export now standing at 63.6%.
Mike Hawes, SMMT Chief Executive, said,
Following two years of rapid growth in domestic output as the market adapted to legislative changes and increasing demand, a fall in production isn’t unexpected. Despite the decline, CV manufacturing remains competitive, with overseas demand continuing to drive output. It is, therefore, vital we maintain our current trading relationship with Europe to secure the future success of the industry.
