Posted on: April 23, 2015
Demand for UK-built commercial vehicles increased by nearly 50% throughout March thanks to a robust home market, according to figures from SMMT.
Britain produced 9,648 vans and trucks in March, representing an increase of 43.3% over last year. In the first quarter of the year, 23,435 commercial vehicles were produced – a 19.1% growth over 2014.
SMMT believes a strong home market and a ramping up of volume production to meet demand for new vans are behind this growth. The UK’s CV sector saw a record quarter for registrations, with 108,456 van and truck orders fulfilled. Light commercial vehicles account for more than four-fifths of output.
There was more evidence of the sector’s return to form in the export market, which has posted growth of 31% in March and 3.9% this quarter.
Mike Hawes, SMMT Chief Executive, said, “The commercial vehicle sector has enjoyed a strong resurgence so far in 2015 after a subdued couple of years.
“Driving this re-adjustment is a home market invigorated by new products, increased consumer and business confidence, and an upturn in demand for UK-built vans and trucks across Europe.
“This growth will help return the sector to a stable natural level following major restructuring of the industry in recent years.”