- UK CV manufacturing grows 17.6% in August, with output rising to 3,744 vehicles.
- Exports fuel demand, up 61.7% on the same month last year.
- Year-to-date output declines -9.4%, with export growth unable to offset -13.0% home market loss.
UK commercial vehicle manufacturing saw double-digit growth in August, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). 3,744 CVs were built in Britain last month, an uplift of 17.6%, as overseas demand continued to drive production. Exports grew 61.7% thanks to increased EU demand, offsetting a decline in domestic output, which fell for the 15th consecutive month, by -13.0%.
Meanwhile, overall production for the year-to-date remains down on 2016, with output falling -9.4% as growing demand from overseas customers – up 8.2% in the first eight months – has failed to counteract losses in the domestic market. More than 33,524 vans, trucks and buses have been shipped abroad so far this year – mostly to EU markets – and exports now account for almost two thirds (62.1%) of UK CV production.
Mike Hawes, SMMT Chief Executive, said,
August CV production volumes are typically some of the smallest in the year and so, given the fluctuating nature of fleet buying cycles, caution is advised when making month by month comparisons. However, today’s figures highlight just how dependent the industry is on EU custom, and with UK demand continuing to fall, certainty on interim and future trading arrangements post Brexit is needed quickly in order to restore buyer confidence.
