CV production stable in October
UK commercial vehicle (CV) production was stable in October, down just 0.2%, with 9,065 units manufactured.
This is according to figures released by the Society of Motor Manufacturers and Traders (SMMT). Output for crucial overseas markets was up some 9.3%, but production for the domestic market fell 8.5% in the face of weakening demand.
Mike Hawes, SMMT chief executive, said: “Some stability for commercial vehicle production in October is welcome, but it’s far too early to tell if this will last, not least due to a fluctuating fleet buying cycles and model changeovers affecting output.
“Year-to-date figures paint a clearer picture; with CV output decreasing, and orders at home and abroad down. Preserving beneficial trading arrangements with the EU and other global markets is crucial to the future success of the industry so we need a new relationship based on free and frictionless trade.”
