11:51 am, November 24, 2016
CAR production has fallen for the first time in 14 months amid a decrease in domestic demand, a study shows.
Just under 151,800 cars were built in October, a fall of one per cent on the same month last year, said the Society of Motor Manufacturers and Traders.
Exports rose for the 15th month in a row, with 122,765 cars built for overseas markets, up by 1.7 per cent on a year ago, offsetting a 10.9 per cent decline in production for the home market.
The SMMT said the motor industry remained strong, up by 9.2 per cent so far this year, with more than 1.4 million vehicles produced.
Mike Hawes, SMMT chief executive, said: ‘October’s figures underline the export-led nature of the industry, with eight out of 10 cars built for overseas customers.
‘Despite model changes which have ended the consistent growth pattern of the past year or so, we are still on track for a record number of exports.
‘Given this dependence on global trade, it is crucial that British-built cars remain attractive to international buyers and exports are not subject to additional tariffs, costs and other barriers to successful trade.
‘It is also essential government ensures there is economic stability and a competitive business environment to ensure we continue to attract the global investment that is behind this performance.’
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