Double-digit decline for UK Commercial Vehicle manufacturing

Credit: stocktributor

UK commercial vehicle (CV) manufacturing fell for the fifth consecutive month in January, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT).

16,088 vans, trucks, buses and coaches were built in Britain last month, representing a year on year decrease of -18.8%, as economic and political uncertainty exacerbated the sector’s naturally fluctuating production cycles.

Output for both domestic and export markets saw double digit declines, falling by -19.7% and -18.5% respectively. However, overseas demand continued to drive volumes, with almost seven out of every 10 (67.9%) CVs built in the UK destined for global customers.

Mike Hawes, SMMT Chief Executive, said, “January’s decline in UK commercial vehicle production continues 2017’s downward trend, and is yet further evidence of falling confidence in the sector. To restore certainty to manufacturers and operators, encourage fleet investment and keep trade flowing freely with our key global customers – most of which are in the EU – we need urgent clarity on the future trading arrangements between Britain and Europe.”