Business News

South: UK car manufacturing achieves 12th consecutive month of growth

Published by
TBM Team

UK car manufacturing achieved its 12th consecutive month of growth in July, rising 7.6% to 126,566 units compared with the same month in 2015, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). Year-to-date production grew 12.3% to 1,023,723 units, which is the best performance since 2000, and the first time in 12 years that volumes have been greater than one million in the first seven months.

Demand in July was up both at home and abroad with a 14.1% increase in output for the domestic market and exports up 6.0% to 101,184 units. More than three quarters of a million cars built this year are destined for overseas markets, a 77.8% share of total production volumes.

Mike Hawes, chief executive of SMMT, said: “UK car production in 2016 is booming, with new British-built models in demand across the world. Manufacturers have invested billions to develop exciting new models and produce them competitively here in the UK. Future success will depend on continued new-car demand and on attracting the next wave of investment, so Britain must demonstrate it remains competitive and open for business.”

TBM Team

Recent Posts

Publisher Future plc sees in-line trading in first-half

Bath-based Future plc, the publisher of specialist online and print magazines, said trading in its…

2 days ago

IS-Instruments Ltd and Bristol university among six UKAEA contract winners

The university of Bristol was one of six organisations to receive a contract from the…

2 days ago

Oxford BioDynamics teams up with King's College in bid to boost rheumatoid arthritis prevention

Oxford BioDynamics Plc is teaming up with researchers at King's College London in a bid…

2 days ago

UK needs quarter of a million extra construction workers by 2028

More than a quarter of a million extra construction workers are needed in the UK…

2 days ago

Vistry makes good start to year, bolstered by partnership model

Kent-based housebuilder Vistry revealed it was on track to deliver more than 10% growth in…

2 days ago

Dorset start-up with green ambitions boosted by SWIG Finance loan

A Dorset-based company, which has developed ground-breaking technology to recycle plastic waste and turn it…

2 days ago