Data for the first five months of 2015 further demonstrate a CV manufacturing resurgence, with production volumes up by almost a quarter.
SMMT found that the sector benefitted from increasing European demand in May, as exports rose 69.4% last month with 3,710 vehicles destined for overseas markets. Half of all commercial vehicles produced to date in 2015 have been built for export.
“May’s strong figures consolidate the UK commercial vehicle manufacturing sector’s return to form, following a more subdued period over the past couple of years when changes to type approval legislation disrupted fleet renewal patterns,” commented Mike Hawes, SMMT chief executive.
“Continued demand for high quality British engineering, growing business confidence and regulatory stability have helped to fuel steady growth for both the domestic and export markets.”
|
CV manufacturing |
May-14 |
May-15 |
% Change |
YTD-14 |
YTD-15 |
% Change |
|
Total |
5,127 |
6,808 |
32.8% |
31,112 |
38,872 |
24.9% |
|
Home |
2,937 |
3,098 |
5.5% |
15,544 |
19,702 |
26.7% |
|
Export |
2,190 |
3,710 |
69.4% |
15,568 |
19,170 |
23.1% |
|
% export |
42.7% | 54.5% |
|
51.2% | 49.3% |
|