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Financial News: UK Car Production Rises In October: SMMT

UK Car Production Rises In October: SMMT

11/23/2017 - 00:39:00 (RTTNews)

(RTTNews) - UK car production expanded in October driven by foreign demand, the Society of Motor Manufacturers and Traders reportedly said Thursday.

Car production increased 3.5 percent year-on-year to 157,056 units in October. Domestic demand fell 2.9 percent, while exports advanced 5 percent.

During January to October period, car manufacturing decreased 1.6 percent compared to the same period of 2016.

The SMMT downgraded its UK car production outlook for 2017 to 1.73 million from 1.8 million.

This revision was worrying news for the sector, SMMT Chief Executive Mike Hawes, said.

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