UK CV manufacturing up 17.6% in August
Growing expand demand led to a double-digit rise in UK CV manufacturing output in August.
Latest figures from the Society of Motor Manufacturers and Traders (SMMT) show that 3,744 CVs were built last month. 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%.
Year to date, overall production remains down, with output falling 9.4% to 54,025 units as growing demand from overseas customers – up 8.2% in the first eight months – failed to counteract a 28.4% downturn in the domestic market.
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.”