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British car production falls 14 month running in July

3 years ago | 52



First Bank
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BRITAIN said on Thursday its car production plunged 10.6 per cent year-on-year in July, registering a 14-consecutive month drop. Data from the Society of Motor Manufacturers and Traders (SMMT) showed that in July British car output was 108,239 units, 10.6 per cent lower than the same month in 2018, a 14-month decrease in a row. According to SMMT, output for the domestic market rose by 10.2 per cent, production for export fell 14.6 per cent. In the year-to-date, British car production plummeted 18.9 per cent year-on-year. The SMMT chief executive, Mike Hawes, said another month of decline for British car manufacturing, a sector overwhelmingly reliant on exports is alarming. “The global headwinds are strong with escalating trade tensions, softening demand and significant technological changes. “With the UK market also weak, the importance of maintaining the UK’s global competitiveness has never been more important. “So, we need a Brexit deal quickly to unlock investment and safeguard the long-term future of the sector,” Hawes said. (Xinhua/NAN) – Aug. 29, 2019 @ 17:32 GMT |
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