Exports 'driving demand' in UK CV sector
Exports have been driving growth within the UK commercial vehicle (CV) sector so far this year, new figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed.
According to the body's latest data for February, UK automotive sector manufacturing output increased by 1.5 per cent during the month. However, production volumes for export increased annually by approximately one-fifth.
Overall, this outweighed a 13 per cent reduction in output for the domestic market and meant that the total CV sector level of production increased by around ten per cent during the first two months of the year.
In total, 15,241 CV models were delivered by UK automotive producers in the year so far, with 7,321 units for domestic sale and 7,920 units for overseas markets – this equates to a shift in production towards foreign buyers amid a 52 per cent market share.
April 4, 2016 | Share: