UK car production sees double digit decline in February
Production at UK car plants has fallen for the ninth consecutive month in February, dropping by 15 percent according to figures released today by the SMMT
The Society of Motor Manufacturers and Traders (SMMT) have released new statistics highlighting that British car manufacturing declined -15.3% in February, with 123,203 units produced, compared with 145,518 produced the year previous. Declining demand in the UK and in key European and Asian export markets resulted in output falling for the ninth consecutive month.
Weakening demand in key markets continued to affect output, with exports to China down more than half (-55.6%) and cars destined for the US down -2.8%. Meanwhile, production for the EU – the UK’s biggest customer – declined by -14.9%.
Mike Hawes, SMMT Chief Executive, said “The ninth months of decline for UK car production should be a wakeup call for anyone who thinks this industry, already challenged by international trade hostilities, declining markets and technological disruption, could survive a ‘no deal’ Brexit without serious damage. A managed no deal is a fantasy.”
To view the original article and full figures, please visit SMMT here.