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June 29, 2017

British CV production falls

British commercial vehicle (CV) production output fell in May as an increase in production for export failed to counteract a drop in domestic demand, according to the Society of Motor Manufacturers and Traders (SMMT).

British commercial vehicle (CV) production output fell in May as an increase in production for export failed to counteract a drop in domestic demand, according to the Society of Motor Manufacturers and Traders (SMMT).

A tally of 6,875 vans, trucks, buses and coaches was built in the UK last month, a 11.3% year on year decline. 

Production for the domestic market fell 34.6% in the month, as the market continued to "rebalance" following high levels of UK demand in the previous year and fleet buying cycles affected the timing of monthly production volumes, SMMT said. Meanwhile, demand from overseas markets grew 11.5%, with the proportion of CVs built for export now standing at 63.6%.

Mike Hawes, SMMT chief executive, said: "Following two years of rapid growth in domestic output as the market adapted to legislative changes and increasing demand, a fall in production isn't unexpected. Despite the decline, CV manufacturing remains competitive, with overseas demand continuing to drive output."

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