UK business automobile (CV) manufacturing decreased to 7,940 items in November, in line with the Society of Motor Producers and Merchants (SMMT). The decline of seven.8%, the weakest November efficiency since 2017, displays the challenges confronted by the broader trade, with the worldwide scarcity of semiconductors – itself a by-product of the pandemic – persevering with to stymie manufacturing.
November’s decline was pushed by a 16.4% fall within the variety of CVs constructed for export, while the home market grew 4.5%.
Throughout 2021, the share of exported CVs has decreased by virtually 5%, from 56.4% to 51.5%.
On the identical time, home demand has grown – albeit in opposition to weak demand in 2020 – given gradual financial restoration and excessive demand for on-line deliveries.
12 months so far, 66,753 items have been constructed, a rise of 12.2% on the pandemic ravaged 2020, due to a rise in output earlier within the yr. Nevertheless, output stays 16.6% down in opposition to the 5 yr pre pandemic common.
Mike Hawes, SMMT chief government, mentioned: “After the numerous progress seen within the sector in October, November’s decline in gentle business automobile output is disappointing. The impression of the worldwide scarcity of semiconductors can’t be overstated, and matched with rising uncertainty over the pandemic, the months forward shall be tough.”
