UK car production up for 12th consecutive month
CAR production in the UK saw its 12th consecutive month of growth in July, rising 7.6% compared with the same month last year.
The fall in the value of the pound following June’s EU referendum vote is making British-built cars a more attractive proposition for overseas buyers and the export figures tend to reflect this.
The number of cars produced for export rose by 6% last month compared with 2015 and for the year-to-date, the export figures are up 13.7%.
In total, 126,566 cars were produced last month (July 2015: 117,665), while figures released today by the Society of Motor Manufacturers and Traders (SMMT) show year-to-date production grew 12.3% to 1,023,723 (2015: 911,304) – the best performance since 2000, and the first time in 12 years volumes have been greater than one million in the first seven months.
While the export situation was encouraging, the home market grew by more than 14% last month compared to a year ago, with 25,382 vehicles produced.
More than three quarters of a million cars built this year are destined for overseas markets, a 77.8% share of total production volumes.
Mike Hawes, chief executive, SMMT, said: “UK car production in 2016 is booming, with new British-built models in demand across the world. Manufacturers have invested billions to develop exciting new models and produce them competitively here in the UK. Future success will depend on continued new car demand and attracting the next wave of investment so Britain must demonstrate it remains competitive and open for business.”
