Car manufacturing slumps as demand falls
29th March 2018
UK car manufacturing fell by 4.4 per cent in February, as demand from the home market fell for the seventh consecutive month.
The latest figures from the Society of Motor Manufacturers and Traders (SMMT) show that production for the UK market in February fell by 17 per cent to 28,336. In total, 145,475 units were produced, 6,757 fewer than in the same month last year.
Buyers in the UK have been holding off on making big purchases due to uncertainty over Brexit, as reported by the BBC.
Exports also declined, but by only 0.8 per cent, with 117,139 vehicles shipped overseas, accounting for more than 80 per cent of output.
Mike Hawes, SMMT Chief Executive, 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."
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