-SMMT: UK July Car Production Up 22.2% y/y; Up 15.1 Year-to-Date
LONDON (MNI) – UK car production posted another steep rise on the
year in July, with output up 22.2% and up 15.1% in the year-to-date.
Car production last year was hit by supply chain disruptions in the
wake of the March tsunami in Japan, driving up year-on-year comparisons
in recent months, but these latest data still show impressive growth.
Production for export in July was up 15.3% on the year and up
13.9% in the year-to-date while domestic output was up 57.4% and up
21.2% year-to-date.
“While uncertainty in Europe remains a challenge, the Stg6 billion
investment committed to the UK in the last two years delivers long-term
growth opportunities and the latest figures show that our products have
enormous global appeal,” Paul Everitt, SMMT Chief Executive, said.
Car production, however, has been a bright spot in a troubled UK
manufacturing sector. Manufacturing output has contracted in each of the
four quarters from Q3 last year according to the most recent GDP
figures.
–London newsroom: 4417 862 7491; email: drobinson@marketnews.com.
[TOPICS: MABDS$,M$B$$$]