CV production plummets nearly 60% in May
UK commercial vehicle manufacturing fell for the third consecutive month in May, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
It found that production plummeted by 59.3%, largely as a result of temporary supply chain challenges.
In total, 4,400 vans, trucks, taxis, buses and coaches were manufactured, with exports making up two-thirds (68.8%) despite a decline of 61.9% to 3,027 units.
Year-to-date, CV production is now down by 3.2% to 45,439 units, which is equivalent to a loss of 1,492 units.
Commercial vehicles
Mike Hawes, SMMT chief executive, said: “Commercial vehicle production has gone from strength to strength over the last year, driven by increasing demand at home and abroad. The recent downturn is obviously disappointing, but is temporary and, as supply chain disruptions are resolved, output should be back on track.
“With the general election now just a week away, the next government must ensure we have the conditions necessary for growth which means maintaining favourable market conditions, improving the competitiveness of UK manufacturing and ensuring trade flows are as free and fair as possible.”
