UK commercial vehicle manufacturing grew 17.6% in January due to overseas demand, with output rising to 3,744 vehicles, according to the Society of Motor Manufacturers and Traders (SMMT).
Exports grew 61.7% thanks to increased EU demand, offsetting a decline in domestic output, which fell for the 15th consecutive month by 13%.
However, overall production for the year-to-date remains down on 2016, with output falling 9.4%. More than 33,524 vans, trucks and buses have been shipped abroad so far this year – mostly to EU markets – and exports now account for almost two thirds (62.1%) of UK CV production.
‘[T]oday's figures highlight just how dependent the industry is on EU custom, and with UK demand continuing to fall, certainty on interim and future trading arrangements post Brexit is needed quickly in order to restore buyer confidence,’ said Mike Hawes, SMMT chief executive.
This story is reprinted from material from the SMMT, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
