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Financial News: UK Car Production Falls To Lowest Since 1984:

UK Car Production Falls To Lowest Since 1984: SMMT

01/28/2021 - 04:53:00 (RTTNews)

(RTTNews) - UK car production declined to the lowest in 36 years in 2020 amid the coronavirus pandemic, the Society of Motor Manufacturers and Traders, or SMMT, reported Thursday.

Car production decreased 29.3 percent to 920,928 units in 2020. This was the lowest output since 1984.

Production for local market fell 30.4 percent and that for exports decreased 29.1 percent from the last year. The EU remained the UK's biggest export destination, taking a 53.5 percent share.

Shipments to the US, Japan and Australia logged double-digit declines, while exports to China, ended the year up 2.3 percent.

Car production was down 2.3 percent to 71,403 in December, with some firms affected by border closures and thus component supply issues.

The lobby noted that manufacturing operations were severely disrupted throughout last year, with lockdowns and social distancing measures restricting factory output, Brexit uncertainty continuing until Christmas Eve and depressed market demand in key export destinations.

According to the latest independent production outlook, UK car production will partly recover in 2021 to one million units. However, much will depend on the extent of Covid measures here and abroad and the speed with which showrooms can reopen, the agency added.

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