Posted on: November 20, 2014
The UK commercial vehicle manufacturing sector is showing signs of improvement, as October saw the smallest monthly fall since June 2013.
A total of 7,235 units were produced in the month, a drop of 8.9% (compared to 23.5% for the year-to-date). The stabilisation was driven by growth in the home market, which grew for the first time in 17 months (+14.6%).
Output for export fell 30.6% in the month, with only 39.6% of vehicles produced destined for export.
SMMT Chief Executive Mike Hawes said, “The heavy fall seen in UK commercial vehicle manufacturing over the past year is now levelling off as the effects of last year’s restructuring only apply to year-to-date figures.
“With new models now being produced in UK plants, production for the home market grew for the first time since June 2013. It remains to be seen if the recent growth in EU demand will continue, but indications are of greater stability in the months to come,” he continued.