Latest figures from The Society of Motor Manufacturers & Traders have shown that exports have driven UK car production in the first half of 2018.
Overall UK production figures for June, including both domestic and foreign demand, fell just 5.5% compared with June 2017, with 128,799 cars built. Cars made for export balanced out the weak UK demand, rising 6% year on year.
In the year to date, 675,187 cars have been built for global markets, helping to mitigate disappointing domestic demand, with overall output down by just -3.3% to 834,402 units.
In the six months to June, global demand for British-built cars grew in a number of key markets, notably the US – the UK’s second largest exports destination after the EU – where exports rose by 1.5% thanks to a raft of new, desirable models. Demand also grew substantially in Japan (+77.3%) and South Korea (+67.8%), while China maintained its position as the UK’s third biggest customer, taking 6.4% of exports.
However, despite a -3.6% decline in demand, the EU remained the UK’s biggest trading partner, accounting for 360,270 units – more than half of all cars produced for export (53.4%). Individually, EU countries also made up half of UK Automotive’s top 10 export destinations, with Germany, Italy and France the UK’s second, third and fourth biggest markets after the US and ahead of China.
Source: www.smmt.co.uk/2018/07/exports-drive-uk-car-production-in-first-half-as-industry-urges-all-brexit-negotiators-to-safeguard-frictionless-trade/
