TNI || New Delhi || 29th Oct 2021
As per the data released by the Society of Motor Manufacturers & Traders, the production of commercial vehicles in the UK has increased to 7799 units in September.
After there was a production decline by over a third i.e. -35.1% in August, September saw a marginal increase of 1.8% as compared to the corresponding period of the last year when the volumes were driven by increased fleet orders.
The increase in output of commercial vehicles in September was due to the domestic demand rising by 27.3%, whereas there was a decline of 12.4% in the number of CVs produced for the overseas market.
Throughout the year, exports have fallen to 51.5% as the markets domestically have outperformed the export markets.
SMMT Chief Executive, Mike Hawes said that although there was a decline in August, when it comes to commercial vehicle production, the industry has come back on track.
He adds that it is indeed good news if one compares it with what took place last September.
However, he reiterates the fact that the industry has not come out of the woods yet and it continues to go through a decline of production and demand due to a shortage of semiconductors which is expected to continue even in the year to come.