UK commercial vehicle (CV) manufacturing fell 26.1% in July according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
Some 6,499 vans, trucks, buses and coaches were built in Britain last month, a result of fluctuating fleet buying cycles, which are a natural feature of the market.
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British demand eased – with production for the home market down 27% – following a significant period of growth – with figures echoing trends seen in UK van registration figures. Meanwhile, the volume manufactured for export also fell by 25.3%.
While less substantial, year-to-date production also saw a decline, with output down 10.9% to 50,281 units. However, production for export stayed steady, rising 5.9% in 2017 with 31,419 units shipped internationally already in 2017, the vast majority to Europe.
With the UK commercial vehicle market stabilising following a long period of strong growth, it is unsurprising to see this reflected in British manufacturing, especially when considering the impact large fleet orders can have on monthly figures,” said SMMT chief executive, Mike Hawes.
“Looking at the longer-term, we expect volumes to stabilise as the sector continues to benefit from significant international demand.”
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By GlobalData
