CV manufacturing down by a quarter in October
British commercial vehicle manufacturing fell 25.7% in October as exports declined.
New figures from the Society of Motor Manufacturers and Traders (SMMT) show a total of 6,921 vehicles left production lines last month, with UK demand up 31.7% while exports were down 44.0%. However, the SMMT warned that fluctuating fleet buying cycles can affect production volumes, making month-by-month comparisons hards.
Year-to-date production declined 13.3% to 68,154 units, with domestic demand down 25.0% and exports down 4.1%.
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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