CV production stutters into 2021
UK production of commercial vehicles (CVs) fell 31.5% in January, with just 5,616 units leaving factory gates.
According to the Society of Motor Manufacturers and Traders (SMMT), the ongoing impact of the coronavirus pandemic, friction in trade with the EU following the Brexit deal and weak demand all affected output.
Manufacturing remained subdued for both domestic and overseas markets, down 28.8% and 33.6% respectively.
Mike Hawes, SMMT chief executive, said: “After a sharp fall in CV production last year, it’s disappointing to see output fall again at the start of 2021. With so many jobs at stake and a real need to secure investment for this essential sector, next week’s Budget is an opportunity for the Chancellor to deliver a shot in the arm to the industry. We need the right conditions that will boost business confidence and address depleted order books across the industry, which means an extension of the CJRS furlough scheme, a review of business rates to incentivise manufacturing investment and improved fiscal measures to support uptake of the latest alternatively fuelled commercial vehicles.”
