UK commercial vehicle production down in May but exports up

British commercial vehicle (CV) production output fell in May as an increase in production for export failed to counteract a drop in domestic demand, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). 6,875 vans, trucks, buses and coaches were built in the UK last month, a -11.3 per cent year on year decline.

Production for the domestic market fell -34.6 per cent in the month, as the market continued to rebalance following high levels of UK demand in the previous year and fleet buying cycles affected the timing of monthly production volumes. Meanwhile, demand from overseas markets grew 11.5 per cent, with the proportion of CVs built for export now standing at 63.6 per cent.

Mike Hawes, SMMT chief executive, said: “Following two years of rapid growth in domestic output as the market adapted to legislative changes and increasing demand, a fall in production isn’t unexpected. Despite the decline, CV manufacturing remains competitive, with overseas demand continuing to drive output. It is, therefore, vital we maintain our current trading relationship with Europe to secure the future success of the industry.”