UK commercial vehicle manufacturing
20 March 2014 (data for February 2014)
- Commercial vehicle (CV) manufacturing output fell 22.1% in February to 6,235 units.
- This marked the eighth successive monthly drop and left year-to-date volumes down 18.4%
- The impact of restructuring continues to be felt across home and export markets.
“Early signs of a recovering European market are a glimmer of good news for UK CV manufacturers still feeling the effects of subdued demand and industry restructuring,” said Mike Hawes, SMMT Chief Executive. “There are still tough months ahead while we work through the pain of the past few years, but if growth in mainland Europe strengthens, there may be light at the end of the tunnel.”
|CV manufacturing||Feb-13||Feb-14||% Change||YTD-13||YTD-14||% Change|
|CV output rolling year total||CV output, year-to-date, 2012-2014|
About SMMT and UK the automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.
The automotive industry is a vital part of the UK economy accounting for more than £60 billion turnover and£12 billion value added. With more than 700,000 jobs dependent on the industry, it accounts for 10% of total UK exports and invests £1.7 billion each year in automotive R&D. More than 30 manufacturers build in excess of 70 models of vehicle in the UK, supported by around 2,500 component providers and some of the world’s most skilled engineers. More detail on UK automotive available in SMMT’s Motor Industry Facts 2014 publication at www.smmt.co.uk/facts14.
Broadcasters: SMMT has an ISDN studio and access to expert spokespeople, case studies and regional representatives.