British CV manufacturing fell by 25.7 per cent to 6,921 vehicles in October, according to the Society of Motor Manufacturers and Traders.
Although production for the domestic market grew 31.7 per cent in the month, bucking the recent downward trend, this wasn’t enough to offset a 44 per cent decline in export demand.
SMMT chief Mike Hawes said: “While it is pleasing to see domestic production rise in October, naturally erratic buying cycles can have a big impact month-on-month. More significant is the overall downward trend we’ve seen this year, with the market showing the impact of declining business confidence. While exports have also fallen in recent months, they still account for almost two thirds of production, and clarity on post-Brexit trading arrangements is needed quickly to restore buyer confidence on both sides of the channel.”