UK Car Production Logs Best November Since 2020 - SMMT

(RTTNews) - UK car manufacturing grew in double-digits in November to record the best outcome for the month in three years as supply chain constraints eased, survey data from the Society of Motor Manufacturers and Traders, or SMMT, showed Friday.

Car production grew 14.8 percent year-on-year after a 31.6 percent increase in October. UK car makers produced 91,923 cars this November, which was 11,832 units more than the same month last year.

Production for the home market rose 13.4 percent annually and that for the export market grew 15.2 percent, claiming a share of 75.1 percent of total production.

Exports led in volume terms and the growth was driven mainly by the EU, China and Turkey, SMMT said. That said, Europe claimed 60.8 percent of all shipments, which highlights the need for tariff-free electrified vehicle trade across the Channel, SMMT said.

Shipments to the EU grew 22.4 percent, those to China rose 37.3 percent and exports to Turkey soared 208.8 percent. This offset a 21.6 percent slump in exports to the U.S. Electric vehicles - battery electric, plug-in hybrids, and hybrids - represented 38.3 percent of total production in November with a combined volume growth of 20.0 percent to 35,169 units.

UK produced a record 322,577 units of electric vehicles since January, up 53.7 percent from the same period last year. This took the total car production volume to 843,345 units, up 119,499 units from last year. The figure is already 68,331 units ahead of full year 2022 with December's figures still to come, SMMT said.

"UK car production is firmly back on track following the tough Covid years and resulting supply chain challenges," SMMT Chief Executive Mike Hawes said. "With significant investment committed to UK automotive manufacturing, production volumes increasing and the imminent threat of tariffs on EVs traded with the EU now removed by the extension of current rules of origin until 2027, there is renewed confidence in the sector."

"We now need to see the Anglo-European battery industry build capacity at pace to meet forecast demand," Hawes added.