UK Car Manufacturing Slumps
UK Car Manufacturing Slumps Again
The number of new cars built in UK fallen for the seventh consecutive month in a row indicating a decline the UK domestic market.
The British car industry has stressed the importance of future EU trade after double-digit drop in production in February.
The UK’s Society of Motor Manufacturers and Traders (SMMT) reported that just under 145,500 cars came off the production lines last month which is 4.4% fewer than in February last year, 2017.
This means that UK car manufacturing was down by 17%, following falls of 24% in December, 28% in November and 14% in September.
At the same time as reduced production, exports also fell, by 0.8%, with 117,139 vehicles shipped overseas, 80% of the total output. The chief executive of the SMMT, Mike Hawes, said:
“Another month of double-digit decline in production for the UK is of considerable concern, but we hope that the degree of certainty provided by last week’s Brexit transition agreement will help stimulate business and consumer confidence over the coming months.
“These figures also highlight the scale of our sector’s dependency on exports, so a final deal that keeps our frictionless trade links with our biggest market, the EU, after December 2020 is now a pressing priority.”