UK CV Production Down -45.4%

UK commercial vehicle (CV) production declined by 45.4% in February, with 4,308 units built, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). CV manufacturing entered its fifth consecutive month of decline as supply chain shortages, new customs processes and lockdown measures across the globe affected output, resulting in the worst February on record.

As Covid suppressed domestic output by -36.8%, vehicles built for export saw a much sharper drop, down -51.3%, where parts shortages combined with new trading arrangements drove the decline. Nevertheless, exports continue to make up more than half (52.5%) of all commercial vehicles built in the UK.

Performance year to date has decreased -38.3%, with a shortfall of 6,155 vehicles compared to this time last year.

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