Commercial vehicle production down for seventh month
UK commercial vehicle (CV) manufacturing fell for the seventh consecutive month in March, new figures out yesterday from the Society of Motor Manufacturers and Traders (SMMT) showed.
The data revealed 7,145 vans, trucks, buses and coaches left production lines last month – a 10.8 per cent fall compared with March last year.
Overseas demand remained relatively stable, with just 79 fewer units produced for export, but failed to offset the decline in commercial vehicles built for the UK market, down 24.9 per cent.
The proportion of exported CVS remains at a high level, however, accounting for 66.8 per cent of production in March. Meanwhile, in the first quarter, 19,252 CVS were built in the United Kingdom, down 17.9 per cent on the same period last year. CV manufacture for domestic and overseas markets fell 26.6 per cent and 13 per cent respectively.
Mike Hawes, SMMT chief executive, said: “With March marking the seventh month of negative growth for UK com- mercial vehicle manufacturing, it’s clear economic and political uncertainty continues to take its toll on business confidence.
“Fleet investments are huge commitments so government must encourage fleet renewal through the right policies and incentives, and maintain the economic conditions needed to fuel growth in this important sector.”