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Home Business

UK car production slides in October – SMMT

Editorial Bureau by Editorial Bureau
November 29, 2018
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UK car production slides in October – SMMT

FILE PHOTO: The Ford logo at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton/File Photo

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LONDON (Reuters) – Car manufacturing in Britain dropped 9.8 percent last month compared with a year ago, hit by uncertainty around Brexit and market turbulence at home and abroad, an industry body said on Thursday.

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The number of cars built in Britain fell to 140,374 in October, down 15,255 on a year ago, the Society of Motor Manufacturers and Traders said.

“The fifth consecutive month of decline for UK car manufacturing is undoubtedly concerning and, while a number of factors have been at play, there is no doubt that business and consumer uncertainty is having a significant impact,” SMMT chief executive Mike Hawes said.

Production for the home market dropped for the fifth consecutive month in annual terms, the SMMT said, although this represents only a small chunk of the market as most cars built in Britain are exported.

Overall, the number of cars built during the first 10 months of 2018 stands at 1,312,304 units — down 6.9 percent compared with the same period in 2017.

(Reporting by Andy Bruce, editing by James Davey)

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