Financial News: UK Car Production Falls For Second Month: SMMT

UK Car Production Falls For Second Month: SMMT

05/30/2024 - 09:05:00 (RTTNews)

(RTTNews) - UK car production declined for the second straight month in April, reflecting factory adjustments in preparation for next generation models and their electrified powertrains, the Society of Motor Manufacturers and Traders, or SMMT, said Thursday.

Car production declined 7.0 percent on a yearly basis to 61,820 units in April, data showed. Car manufacturing output was down 0.8 percent on 2023 volumes in the year to date period.

Production for domestic market surged 19.8 percent in April but failed to offset a 12.7 percent decrease in production for export markets.

The European Union took the majority of car exports followed by the US, China, Turkey and Australia.

Electrified vehicle volumes represented 40.5 percent of overall production in April. Another report showed that the production of commercial vehicles declined 19.9 percent in April from the last year.

However, manufacturing maintained 13.6 percent lead in the first four months of the year, marking the best year to date since 2010.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Sees U.S. Q3 GDP Growth At 2.8% (11 hr(s), 20 min(s), 25 sec(s) ago)
(RTTNews) - The Atlanta Fed released its initial estimate for the third quarter growth based on it ...Full Story»

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July (13 hr(s), 11 min(s), 25 sec(s) ago)
(RTTNews) - The University of Michigan released revised data on Friday showing consumer sentiment ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In June, In Line With Estimates (14 hr(s), 08 min(s), 25 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Spain Jobless Rate Lowest Since 2008 (14 hr(s), 22 min(s), 25 sec(s) ago)
(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the secon ...Full Story»

Denmark Retail Sales Fall 0.1% (14 hr(s), 30 min(s), 25 sec(s) ago)
(RTTNews) - Danish retail sales decreased slightly in June after recovering in the previous month, ...Full Story»

Hungary Jobless Rate Falls To 4.3% (14 hr(s), 46 min(s), 25 sec(s) ago)
(RTTNews) - Hungary's unemployment rate decreased slightly during the April-June period, data ...Full Story»

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5% (14 hr(s), 55 min(s), 25 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Russia Central Bank Hikes Rate By 200 Bps (15 hr(s), 08 min(s), 25 sec(s) ago)
(RTTNews) - Russia's central bank raised its benchmark rate by 200 basis points on Friday amid ...Full Story»