Car manufacturers face big drop in domestic demand
The drop in UK demand for cars is gathering speed after car manufacturing fell by 4.4% last month.
The figures from the Society of Motor Manufacturers and Traders show that while the number of cars made for export was only slightly behind February 2017 – down 0.8% to 117,139 – cars made for the home market fell 17.0% to 28,336.
“Another month of double digit decline in production for the UK is of considerable concern,” said SMMT chief executive Mike Hawes, “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.”
February was the seventh consecutive month that domestic demand has fallen, dragging down the figures.
Graph: SMMT
More articles in
Sectors
