UK commercial vehicle (CV) production increased to 6,243 units in May versus just 820 a year ago in the locked down UK, according to the Society of Motor Manufacturers and Traders (SMMT).
“For the second consecutive month CV output saw a significant increase on the same period in 2020, when just 820 units left production lines as plants either operated at a reduced capacity or were shut entirely,” SMMT said.
Go deeper with GlobalData
“May’s output also represents a 2.2% increase on the five-year average, although this must be viewed in the context of important model changes in 2019.”
Year-to-date, commercial vehicle production rose 28.5% on 2020 to 28,510 units, driven chiefly by a rise in domestic demand, up 48.4%.
While the domestic share of production continues to increase, the share of exports has fallen from 56.3% in 2020 to 49.5% this year, as new trading agreements and lockdown measures abroad continue to have an impact on CV exports.
Mike Hawes, SMMT chief executive, said, “May’s figures were always set to be exponentially higher than last year, as factories were forced to operate under limited capacity, or closed entirely. There was, however, some good news as production during the month surpassed pre-pandemic levels of output. For a full recovery, however, we need increased confidence not just in the domestic market but in overseas markets as well.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
