CV Sector TNB News UK Manufacturing

Commercial vehicle production falls by a quarter in October

23 November 2017 #CV Sector #TNB News #UK Manufacturing
  • British commercial vehicle manufacturing declines -25.7% in October to 6,921.
  • UK demand rises 31.7% as exports fall -44.0%.
  • Year-to-date production declines -13.3% to 68,154 units, with overseas demand accounting for 61.6% of output.

British CV manufacturing fell -25.7% in October, with 6,921 vehicles leaving production lines, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT).

Although production for the domestic market grew 31.7% in the month, bucking the recent downward trend, this wasn’t enough to offset a -44.0% decline in export demand. However, as fluctuating fleet buying cycles can affect production volumes, caution is advised when making month-by-month comparisons.

Year-to-date production has also declined, with output for UK and overseas markets both falling.

Mike Hawes, SMMT Chief Executive, said,

While it is pleasing to see domestic production rise in October, naturally erratic buying cycles can have a big impact month-on-month. More significant is the overall downward trend we’ve seen this year, with the market showing the impact of declining business confidence. While exports have also fallen in recent months, they still account for almost two thirds of production, and clarity on post-Brexit trading arrangements is needed quickly to restore buyer confidence on both sides of the channel.

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