UK commercial vehicle manufacturing dip

UK Commercial Vehicle Manufacturing Dip
UK commercial vehicle manufacturing saw a decline in March 2016, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).

Down

8,398 CVs were built in Britain last month, down -13.0 per cent compared with the previous year as the market rebalanced following a particularly strong performance in March 2015.

Stable

First quarter production volumes remained stable, rising 0.9 per cent on 2015 and marking the strongest quarter in more than four years. The growth was driven by overseas demand, up almost a fifth compared with the same period last year, with 12,450 vehicles exported.

Unsurprising

Mike Hawes, SMMT Chief Executive, said, “Following the substantial boost to volumes seen in 2015, it is unsurprising that March’s production figures were more subdued. However, exports are driving output, with more than half of all the commercial vehicles made in Britain in 2016 produced for overseas buyers. With continued recovery in Europe, we can be optimistic that this trend will continue.”