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UK car production to begin quickly in January
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UK car manufacturing output rose 21.0% in January to 82,997 units. Exports increased by 11.6%, while UK market output soared by 64.5%. Electric vehicle production continues to grow, up 4.5% to 29,590 units.
Car production in the UK got off to a fast start in January, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). Sales rose 21.0% to 82,997 units, the best January performance since 2021 and the fifth consecutive month of growth as global demand for British brands continues to grow and existing supply chain issues, particularly semiconductor shortages, ease. One
Most of the production was for export (75.8%), and overseas shipments increased by 11.6% to 62,938 units and 6,559 units. However, domestic market production showed the largest increase, increasing by 7,863 units (+64.5%). The EU was the world's largest market for British cars, accounting for more than half (53.2%) of exports, followed by the US (15.0%), China (10.5%), Japan (2.8%) and Australia (2.3%). . Shipments to the EU, US, and China all increased by 5.0%, 81.1%, and 33.2%, respectively.
UK production of battery electric (BEV), plug-in hybrid (PHEV) and hybrid (HEV) vehicles increased again by 4.5% to 29,590 vehicles, accounting for 35.7% of total production. According to overall figures, the majority of these models have been exported, evidence of the importance of producing electric vehicles in increasing numbers as well as ensuring free and fair trade agreements with markets around the world.
SMMT CEO Mike Hawes said:
A positive start to UK car production bodes well for the industry and the livelihoods of the thousands of people who depend on it. But given the economic headwinds and geopolitical tensions, there is no room for complacency. Building on the recent significant investment in the sector, there must be continued efforts to become competitive. The upcoming Budget is an opportunity for the Government to do this by introducing measures to boost UK car manufacturing with a focus on energy, investment competitiveness and market demand.
The scale of the impact on UK car manufacturing from the attack on Red Sea shipping is yet to be confirmed, but the latest independent forecasts published in November show UK car and light van production growing by around 3% in 2024, to 1.04. I expect it. In millions.
Note to editors
1: 86,052 cars produced in January 2021
Sources 2/ https://www.smmt.co.uk/2024/02/uk-car-production-off-to-a-fast-start-in-january/ The mention sources can contact us to remove/changing this article |
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