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Commercial vehicle manufacturing recovers in August
UK commercial vehicle (CV) manufacturing output surged 47.9% in August, reversing four successive months of decline, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). New model production coming on stream positively impacted volumes in the month, as 5,544 units rolled off production lines, nearly 1,800 more than in the same period last year, marking the best August since 2012.
Output for both overseas and home markets rose, up 71.9% and 17.3% respectively, emphasising the export-led nature of British CV production. Despite the strong performance, in the year to date, volumes are down -13.4%, driven by a -24.5% fall in overseas orders. Home demand is up 7.5% however, but representing some 6,500 fewer units than those made for export since January.
Mike Hawes, SMMT Chief Executive, said: “It’s good news to see commercial vehicle production rebound in August, as new model production ramps up and customers respond to the latest, cleanest vans coming to market. It is still too early to draw any long-term conclusions that volumes will recover for the year, however, and crucial to future success will be keeping beneficial trading relationships with the EU and other global markets.