CV Production Improves in November

UK commercial vehicle (CV) production increased 9.8% in November, with 8,768 units manufactured, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).

Production of Commercial Vehicles Increases in November

Output for overseas markets was up 43.5%, but production for the domestic market fell again, down -21.7% as business confidence remaining weak.

Factories produced 785 more units than in the same month last year, with the increase partly due to the ramp up of key new model production. Year to date, output is -9.3% down, with exports having fallen by -11.5%. 70,918 CVs have been produced so far this year, with nearly 6 in 10 shipped overseas, highlighting the importance of international trade.

Mike Hawes, SMMT Chief Executive, said, “It has been a turbulent year in the commercial vehicle sector, with political and economic uncertainty contributing to a drop in demand, especially from UK fleets. Operators need stability and confidence to invest so industry looks forward to working with the new government to help deliver an ambitious EU trade deal, which is tariff free, avoids barriers to trade and includes regulatory alignment.”