UK Car Production Declines Sharply: SMMT
(RTTNews) - UK car production logged a double-digit decline in January reflecting weakness in key markets combined with planned model changeovers, the Society of Motor Manufacturers and Traders, or SMMT, said Thursday.
In January, vehicle production slid 17.7 percent from a year ago. Factories rolled out 71,104 cars and 6,908 commercial vehicles. In the same period last year, there was a bumper performance, when car and commercial vehicle output climbed 21.0 percent and 27.5 percent.
Production for home market declined 30.5 percent and that for exports decreased 13.4 percent from the previous year.
Data showed that production of battery electric, plug-in hybrid, and hybrid vehicles grew 1.5 percent to 30,028 units. This accounted for 42.2 percent of all cars made in January, which was the highest monthly performance since December 2022.
While shipments to the EU and China plunged 11.2 percent and 46.3 percent, those to the US, Turkey and Japan grew by 12.4 percent, 36.9 percent and 8.1 percent, respectively.
The lobby said manufacturers responded to softening demand from the US and other key markets amid plant restructuring and slower than anticipated rollout of new models.
SMMT Chief Executive Mike Hawes said, "UK vehicle producers face a perfect storm of global trade uncertainty, challenging manufacturing conditions and a market transition which is proving tougher than expected."
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