Some light, but still a lot of tunnel to go

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Today’s publication of CV production figures for July – with output up 3.6% – offers some solace against the backdrop of growing political and economic uncertainty.

Last month saw 5,234 commercial vehicles rolling off production lines here in the UK. Amid a global pandemic, wider economic recession and the looming threat of a no deal Brexit at the end of the transition period, this small uptick in output offers a glimmer of hope as well as a reminder of the tenacity of our industry.  However, we are still some way off confidence being restored.

Crucial to restoring that confidence and recovering from a loss of over 8,500 vehicles so far this year is a commitment from all sides to work toward an FTA and regulatory alignment with our key trading partner – the EU. The majority of vehicles built in July were shipped to already recovering European markets; if we are to follow suit, protecting our relationship with Europe is essential, now more so than ever before.

The post Some light, but still a lot of tunnel to go appeared first on SMMT.

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