Image courtesy of SMMT
Output from UK commercial vehicle manufacturers surged 33.7% higher in February, compared to the same period last year, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
Of particular note was an increase in export demand of 13.4% — the first for many months and a positive sign, given that the UK’s main export market is the recession-bound eurozone.
The figures were pretty strong at home, too, with output rising by 56.1% compared to the same month last year and by 23.8% on a year-to-date basis.
Mike Hawes, the SMMT’s chief executive, says that the outlook for the year ahead is strong:
“The surge in output from UK commercial vehicle manufacturers in February has put the sector on a strong footing for the year ahead,” said Mike Hawes, SMMT Chief Executive. “Demand from the UK’s prospering domestic market is driving growth, buoyed by a strong appetite from overseas buyers, with exports in February up by more than 13% on the same month last year.”
If you’d like more details, here’s a table with full details of February’s CV manufacturing output:
| CV manufacturing | Feb-14 | Feb-15 | % Change | YTD-14 | YTD-15 | % Change |
| Total | 6,239 | 8,344 | 33.7% | 12,946 | 13,787 | 6.5% |
| Home | 2,967 | 4,632 | 56.1% | 6,438 | 7,973 | 23.8% |
| Export | 3,272 | 3,712 | 13.4% | 6,508 | 5,814 | -10.7% |
| % export | 52.4% | 44.5% | 50.3% | 42.2% |
Data courtesy of SMMT (www.smmt.co.uk)
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