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Commercial vehicle production is up by 16% on lockdown levels
07 May 2021
The Society of Motor Manufacturers and Traders (SMMT) have released new figures which show a 16.9% increase in commercial vehicle production in the UK in March 2021 (6,166 units) compared with output during lockdown in 2020.
SMMT pointed out that output is still ‘significantly down on pre-pandemic levels’ at -32%, despite the figured indicating the first month of growth since the beginning of the Covid19 pandemic.
As it stands, the domestic market appears to be recovering at a higher rate (34.7%) than overseas (3.2%). The SMMT said that “renewed lockdown restrictions in other key markets and the added administrative burden of the new UK-EU trading arrangements with the EU took their toll on exports”.
The first quarter of 2021 has seen 5,264 fewer vehicles manufactured compared to the same period in 2020.
SMMT Chief Executive Mike Hawes said, “One year since the coronavirus pandemic first caused a nationwide lockdown, we are starting to see signs of recovery, with growth in commercial vehicle production for the first time in six months being very welcome. March 2021 was always going to be up, as last year’s output was hit so badly by shuttered factories. While manufacturers are working hard to make up for production lost last year, getting back to pre-pandemic levels will take time as many LCV key export markets have new lockdown restrictions in place.
“Fleet renewal remains crucial to returning the CV sector to growth, especially as manufacturers are investing heavily in new zero emission capable technologies that support operator and driver needs. The pace of this transformation can also ensure the UK remains an attractive and globally competitive destination for commercial vehicle manufacturing”.
We at Marshall Leasing are pleased to see the industry beginning to recover from the recent periods of lockdown and trust that you find this information useful. If you would like to find out more about how our team of dedicated experts can assist with your fleet requirements as we emerge from lockdown, please email info@marshall-leasing.co.uk or call 01480 414541.
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