SMMT found that production fell by 27.3% in April, due in part to the impact of restructuring in the market.
Other findings include the assessment that YtD volumes were down by 20.6% for the month, with reduced output for both home and export markets.
On a more positive note, however, SMMT experts remain confident that output will stabilise in the second half of the year due to an upturn in European demand.
‘Production of commercial vehicles continues to suffer the effects of restructuring and, for the truck sector, the impact of last year's spike in demand around new Euro 6 legislation,’ said Mike Hawes, SMMT chief executive. ‘However, with some investments yet to be realised and eight consecutive months of growth in the European market, the outlook is more encouraging.’
|
CV manufacturing |
Apr-13 |
Apr-14 |
% Change |
YTD-13 |
YTD-14 |
% Change |
|
Total |
8,623 |
6,270 |
-27.3% |
32,477 |
25,790 |
-20.6% |
|
Home |
3,899 |
2,895 |
-25.8% |
16,565 |
12,412 |
-25.1% |
|
Export |
4,724 |
3,375 |
-28.6% |
15,912 |
13,378 |
-15.9% |
|
% export |
54.8% | 53.8% |
|
49.0% | 51.9% |
|