UK car production exceeds 500,000 so far this year
Car production in the UK has exceeded the 500,000-mark so far this year, Yahoo! News reports, despite there being a slight drop in production numbers this April compared to the same month in 2014.
Figures from the Society of Motor Manufacturers and Traders (SMMT) show that by the end of April 530,505 cars had been built, representing a 19.4% increase in production for the domestic market. Cars built specifically for British buyers rose in the month of April by 11.1% to 29,930 vehicles.
Commenting on the figures, SMMT chief executive Mike Hawes stated:
UK car production has escalated in recent years and continues to perform steadily in 2015. Manufacturers across the country are poised to see yet more growth following multi-billion pound investments and, providing global markets perform well, output is on track to reach record levels in the next few years.
This statement comes despite the month of April showing a 3.8% decrease in the number of cars produced compared to April 2014 (128,312 cars were built). That was due to a drop in the number of cars exported – the figure fell by 7.6% to 98,382.
The decrease may be due to a fall in demand from China – the UK's largest non-EU export market – in 2014. There was also a drop in demand from Russia, the third-largest non-EU export market for the UK, due to imposed sanctions after the annexing of the Crimea and troubles in Ukraine.
Nevertheless, Hawes went on to note that the future is looking positive for UK car production; 1.53 million cars were built in the UK in 2014, but this is expected to rise to 1.95 million by 2017.