Exports drive upturn in CV production
The SMMT has reported that UK commercial vehicle (CV) production increased 9.8 per cent in November, with 8,768 units manufactured.
Output for overseas markets was up 43.5 per cent, but production for the domestic market fell again, down 21.7 per cent as business confidence remained weak.
Factories produced 785 more units than in the same month last year, with the increase partly due to the ramp up of key new model production. Year to date, output is 9.3 per cent down, with exports having fallen by 11.5 per cent. 70,918 CVs have been produced so far this year, with nearly six in 10 shipped overseas, highlighting the importance of international trade.
Mike Hawes, SMMT chief executive, said: “It has been a turbulent year in the commercial vehicle sector, with political and economic uncertainty contributing to a drop in demand, especially from UK fleets. Operators need stability and confidence to invest so industry looks forward to working with the new government to help deliver an ambitious EU trade deal, which is tariff free, avoids barriers to trade and includes regulatory alignment.”
