UK car production increases in July, exports drive growth

(Sharecast News) - UK car production increased in July, according to figures from the Society of Motor Manufacturers and Traders, with exports driving growth despite a sharp decline in commercial vehicle output. The SMMT said UK car manufacturing rose 5.6% year-on-year in July to 69,127 units, principally driven by a 13.7% rise in exports, which accounted for nearly four-fifths of total production. Shipments to the US, Turkey and Japan saw notable growth, although exports to the EU and China declined.

Production for the domestic market, on the other hand, fell 16.0% in July, while overall vehicle output was dragged lower by an 81.1% slump in commercial vehicle manufacturing, dropping to just 2,892 units.

SMMT chief executive Mike Hawes said: "It remains a turbulent time for automotive manufacturing, with consumer confidence weak, trade flows volatile and massive investment in new technologies underway both here and abroad. Given this backdrop, another month of growing car output is good news - signalling the sector's underlying resilience in the face of intense global competition. To unlock sustained growth, however, Government strategies must become tangible actions as a thriving automotive sector can support well-paid jobs and economic development across the UK."







Reporting by Iain Gilbert at Sharecast.com