Commercial vehicle production falls sharply

Commercial vehicle production plummeted by 70% to 2,110 units in May. The Society of Motor Manufacturers and Traders (SMMT) also showed that production was down by 6.3% for the first five months of the year.

This isn’t just for UK customers – most (56.3%) of CV production was for export.

Mike Hawes, SMMT chief executive, said: “While key model changes and fluctuating fleet buying cycles were behind the second month of significant decline for CV manufacturing, we shouldn’t ignore the wider challenges facing the industry. The large decrease in output for overseas markets highlights the sector’s reliance on international trade, particularly with the EU, where more than nine out of 10 exports are headed. Future growth is pinned on a Brexit deal that guarantees free and frictionless trade.”

Car production also fell significantly by 15.5%, or 21% for the year to date. Nearly 80% of that was for export.

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