7:29 am, November 30, 2023
The SMMT has revealed that the UK’s new car production increased to more than 91,000 cars in October, marking eight consecutive months of growth.
The trade body says the that 91,512 cars rolled off British production lines in the tenth month of the year – the best October performance since 2019.
The total was almost a third (31.6 per cent) up on the same month last year with production for the home and overseas markets increasing by 23.9 per cent and 33.4 per cent respectively.
More than four in five cars were shipped abroad, with export growth driven by a 58 per cent increase in shipments to the EU, which remains the UK’s largest market by far, accounting for almost two-thirds of exports.
Meanwhile, exports to Turkey grew almost four-fold to make it the third largest market, above the US, China and Japan.
When it came to alternatively fuelled vehicles, production of battery electric, plug-in hybrid and hybrid vehicles all increased.
The SMMT says the combined output represented 40 per cent of all cars made in the month, a near-record high.
SMMT chief executive Mike Hawes said: ‘These figures, coming on the back of a series of significant investment announcements, signpost a bright 2024 for the UK automotive sector.
‘Government and industry are committing billions to transform the industry for a decarbonised future.’
The SMMT added that the latest independent light vehicle production outlook has been revised up and now anticipates UK vehicle-makers producing just over one million cars and light vans this year, up 18 per cent on last year, with further growth anticipated in 2024.
Business and Trade Secretary Kemi Badenoch added: ‘This is yet more good news for our world-class automotive sector, off the back of the £2bn investment announced by Nissan in their Sunderland plant last Friday and the launch of our landmark Advanced Manufacturing Plan at the weekend.
‘This Government is backing the UK car industry and these figures, combined with recent big investment wins, show that our plan for the sector is working.’
