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CV production figures slump dramatically
25th June 2009, Page 13
25th June 2009
Page 13
Page 13, 25th June 2009
— CV production figures slump dramatically
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PRODUCTION OF commercial vehicles in May fell 73% compared to the same month last year — the largest drop ever recorded — according to figures from the Society of Motor Manufacturers and Traders (SMMT).
The number of vans and commercial vehicles leaving the factory gates in the UK during May also fell by 39% compared to April, the industry body found.
"Commercial vehicle production has been severely affected by low business confidence," says Paul Everitt, the SM MT chief executive. "Businesses are holding back on new expenditure and will need to see better access to finance,"