business insurance news

Date: 14:48:14 2007-11-23

Commercial vehicle production rises


The production of commercial vehicles in the UK "recovered" in October, the Society of Motor Manufacturers and Traders (SMMT) reports.

According to the organisation, commercial vehicle production increased by 11.8 per cent last month, while car manufacturing increased by 31.1 per cent.

Christopher Macgowan, chief executive of the SMMT, said that production levels "recovered" last month.

"Growth came in both the heavy and light ends of the market and could well result in 2007's total reaching its highest level since 1998," he remarked.

So far this year, 179,136 commercial vehicles have been produced by manufacturers in the UK.

Earlier in the month, the SMMT reported that van registrations rose by 6.2 per cent in October, while registrations for trucks increased by 73 per cent.

Mr Macgowan suggested that demand for vans continues to be "strong" and predicted that the outlook for 2008 would be positive.


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