Truck makers struggling with Europe slump
COMMERCIAL vehicle production fell for the eighth month in a row in February, though the industry body said there “may be light at the end of the tunnel” following several years of weak demand following the recession.
British factories produced 6,235 trucks and other commercial vehicles in the month, down 22.1 per cent on the previous year. Just under half of the vehicles were made for export.
“Early signs of a recovering European market are a glimmer of good news for UK CV manufacturers still feeling the effects of subdued demand and industry restructuring,” said Mike Hawes, head of the Society of Motor Manufacturers and Traders.
“There are still tough months ahead while we work through the pain of the past few years, but if growth in mainland Europe strengthens, there may be light at the end of the tunnel.”
The figures come a day after the SMMT reported a 2.7 per cent fall in new car production, though export volumes rose 3.5 per cent and new models are expected to boost output later in the year.
British motorists bought three per cent more new cars in February, marking two full years of increasing sales. New car sales jumped 10.8 per cent in the UK last year, outpacing most of Europe.