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Financial News: UK Car Output Rises In April: SMMT

UK Car Output Rises In April: SMMT

05/31/2018 - 04:26:00 (RTTNews)

(RTTNews) - UK car output increased in April as manufacturers ramped up production at several plants to deliver a number of key new and updated models, the Society of Motor Manufacturers and Traders said Thursday.

Car production increased 5.2 percent year-on-year to 127,952 units in April.

Manufacturing for both home and overseas markets grew by 7.3 percent and 4.7 percent respectively, with 103,662 cars built for export in April and accounting for 81.0 percent of production.

However, year-to-date production dropped 3.9 percent to 568,378 units.

"While April's growth isn't altogether surprising given the significant decline in output this time last year, it is good to see earlier planned investment into new models delivering results," Mike Hawes, SMMT Chief Executive, said.

"However, given such investment was made on the basis of the free and frictionless trade afforded by our EU membership, the ability of UK plants to attract the next wave of new models and drive future growth depends upon maintaining these competitive conditions after Brexit," said Hawes.

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