It has been announced by the Society of Motor Manufacturers and Traders (SMMT) that UK Commercial vehicle (CV) manufacturing received a yearly decrease of 5.2% during July 2016, when compared to the same month in 2015. However, manufacturing levels are still far higher than they were in July 2014, as figures in 2015 had previously increased by almost 50%.
Mike Hawes, SMMT Chief Executive, said, “Despite July’s fall in CV manufacturing, the sector remains strong and output is at a high level. Following last year’s substantial rise in production – the result of market disruption caused by regulatory upheaval – a decline in demand was inevitable and we expect this trend to continue throughout 2016. With the industry highly dependent on exports, maintaining competitive trading conditions and global demand will be vital for future success.”
Further to this, reported figures show that overseas output in July 2016 was ahead of the same period in 2015, with an increase of 4.4% being achieved, whilst over half of UK built commercial vehicles being sold internationally.