Industry News from Yes Insurance
20 March 2008 Commercial vehicle production up 18%
UK production of commercial vehicles (CVs) is continuing to increase, according to new figures.Statistics released by the Society of Motor Manufacturers and Traders (SMMT) have shown that CV production rose by 18 per cent in February compared with the same month last year.
More than 20,638 CVs were produced last month, taking this year's total to 41,474 so far, the SMMT said. Car production also increased year-on-year by over 26 per cent.
"February continued the encouraging trend for CV production in the UK ... The 12-month rolling total reached 220,081 units and the full-year total is expected to be the best for a decade," commented Paul Everitt, chief executive of the SMMT.
Earlier this month, the organisation revealed that total CV registrations experienced a significant increase in February, with van registrations in particular up by 4.1 per cent, marking a "confident" beginning to 2008.
