UK car manufacturing slump | Industry - Car News Oct 2018

INDUSTRY

09:38 Friday 26 Oct 2018

Latest figures have revealed that UK car manufacturing slumped by 16.8% in September, with 25,610 fewer cars rolling off the production lines than during the same month last year.

With eight out of every 10 cars produced in the UK destined for export, a fall in demand from overseas markets has hit the car manufacturing sector hard, but with production for the domestic market down by almost a fifth last month, the industry found itself hit by a perfect storm of turbulent conditions.

Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders who produced the figures, said: “It has been a turbulent year and the industry needs stability, something which appears elusive given the lack of resolution to Brexit negotiations. The UK government has recognised the importance of a deal that maintains free and frictionless trade with the EU, but it is up to all sides to deliver this to safeguard the hundreds of thousands of jobs depending on the sector. Stability is also needed at home and a stronger UK new car market would go a long way to boosting manufacturing output. The Chancellor’s Budget next week is the perfect opportunity to stimulate the market, sending consumers and businesses the right signals to encourage the purchase of new cars, which would help bolster economic performance as well as delivering environmental goals."

 

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