Fluctuating fleet buying cycles impact July CV production
UK commercial vehicle production fell last month, with the Society of Motor Manufacturers (SMMT) attributing the decline to fluctuating fleet buying cycles.
Overall production declined 26.1% to 6,499 units in July 2017, with production for the home market down 27.0% while export production declined 25.3%.
Output was also down for the year-to-date, with a decline of 10.9% to 50,281 units. Home production was down 29.5% but exports were up 5.9%.
Mike Hawes, SMMT chief executive, said: “With the UK commercial vehicle market stabilising following a long period of strong growth, it is unsurprising to see this reflected in British manufacturing – especially when considering the impact large fleet orders can have on monthly figures. Looking at the longer-term, we expect volumes to stabilise as the sector continues to benefit from significant international demand.”