UK CV manufacturing rises on back of overseas demand
UK commercial vehicle (CV) manufacturing increased by almost a fifth (19.0%) in April 2018, with more than 7,000 units produced.
The figures from the Society of Motor Manufacturers and Traders (SMMT) show that a rise in overseas demand boosted production, with exports up 28.5% to take a 70.9% production share.
Meanwhile, demand from domestic fleets remained static, up 0.9%, with 2,124 vans, trucks and buses produced for UK customers.
The year-to-date picture for production figures was less positive, falling 10.2% on 2017, with manufacturing for both domestic and overseas markets declining 21.1% and 4.3% respectively. In line with the monthly figures, exports continue to account for the lion’s share of production, at 68.8%.
Mike Hawes, SMMT chief executive, said: “Today’s figures highlight just how dependent the industry is on production for export, particularly to the EU – our largest customer. If we are to see future long-term growth, government must negotiate the right Brexit deal to ensure our mutual trade remains free and free flowing.”