February 23, 2020

Growth in UK CV production continues in March

New figures from the Society of Motor Manufacturers and Traders (SMMT) show that British commercial vehicle production increased by 24.5% in March to 9,098 vehicles.

The news comes as the SMMT publishes new research at the CV Show 2019 in Birmingham, highlighting the importance of vans to the UK economy, with one in 10 British workers relying on them for their jobs.

The growth, which follows a -8.8% decline in March 2018, is being attributed to strong market incentives combined with upcoming key model changes.

The number of vans, trucks and buses built for the domestic market rose 58.6% to 4,010 units, while export demand also posted a rise, increasing 6.5% to 5,088.

The first quarter of 2019 saw 27,513 trucks, buses and vans built in the UK, representing the strongest Q1 performance since 2012. The growth has been driven largely by growing export demand, with 96% of the export models built so far this year being sent to the European Union.

Mike Hawes, SMMT chief executive, said, “It’s certainly positive to see growth in the commercial vehicle market, but with ongoing Brexit uncertainty and the natural variability of buying cycles, we’re likely to see some turbulence in the months ahead.”