UK Car Production Falls On Model Changeover, Supply Chain Challenges
(RTTNews) - UK car production declined in July due to model changeovers as well as temporary supply chain challenges, the Society of Motor Manufacturers & Traders, or SMMT, said on Thursday.
Car output posted an annual decline of 14.4 percent in July. Factory lines rolled out 65,478 vehicles.
Despite the fall, the share of electrified vehicle manufacturing remained relatively stable at 37.5 percent compared to 39.5 percent in the same period last year.
Production for the domestic market dropped 5.1 percent but this represented just 672 fewer units in volume terms.
More than four in five cars manufactured in July were destined for overseas customers. Export volumes plunged 16.3 percent. In the year-to-date period, domestic production advanced 14.8 percent. On the other hand, export volumes decreased 14.3 percent. As a result, total production fell 8.6 percent from a year ago.
"Following significant growth last year, some readjustment in output was to be expected," SMMT Chief Executive Mike Hawes said.
"Indeed, an ongoing degree of volatility is likely as the industry restructures to transition to zero emission vehicle production," Hawes added.
Another report from SMMT showed that commercial vehicle production surged 71.7 percent in July after four months of decline. The increase resulted in the best July performance in 16 years.
UK Pay Growth Stalled In September, Likely To Slow Next Year: Survey
UK Budget Deficit Widens More Than Estimated
UK House Price Growth Weakens: Rightmove
UK Retail Sales Rise Unexpectedly
UK Inflation Falls Below 2% Target
UK Wage Growth Weakest In More Than 2 Years
UK Economy Returns To Growth
