CV production up 17.6pc

Commercial vehicle production was up 17.6 per cent to 3,744 units in August driven by overseas demand, according to the Society of Motor Manufactures and Traders.

Exports grew 61.7 per cent thanks to increased EU demand, offsetting a decline in domestic output, which fell by 13 per cent.

Overall production for the year-to-date remains down on 2016, with output falling -9.4 per cent as growing demand from overseas customers – up 8.2 per cent in the first eight months – has failed to counteract losses in the domestic market.

More than 33,524 trucks, vans and buses have been shipped abroad so far this year – mostly to EU markets – and exports now account for 62.1 per cent of UK CV production.

SMMT chief Mike Hawes said: “Today’s figures highlight just how dependent the industry is on EU custom, and with UK demand continuing to fall, certainty on interim and future trading arrangements post Brexit is needed quickly to restore buyer confidence.”