CV manufacturing falls 24pc in February

UK commercial vehicle manufacturing fell by 24.2 per cent in February, with 6,019 vehicles leaving production lines, according to figures from the Society of Motor Manufacturers and Traders.

It means that in the year to date production is down 21.6 per cent on a year ago.

Production for both home and overseas markets fell in February, with demand down by -34.7 per cent and -18.5 per cent respectively. However, exports still drive UK production volumes, with almost 70 per cent of UK-built vans, trucks, buses and coaches destined for global customers.

SMMT chief Mike Hawes said: “That February marks the sixth consecutive month of decline for commercial vehicle manufacturing is concerning but unsurprising given the economic and political uncertainty that has knocked business confidence. Operators need stability to commit to big fleet investments and it is, therefore, critical that government safeguards the economic conditions needed for this vital sector to thrive.”