Market News

    UK car production drops in January as exports falter

    Britain's car production fell 8.2 per cent to 65,249 units in January, as exports declined due to weak demand in key global markets, industry data showed on Friday.

    Car exports from ‌the ⁠UK fell ⁠10.1 per cent to 51,396 units during the month, marking a disappointing start to the year.

    "It reinforces the need for a forward-looking trade agenda that secures existing preferential access - notably with the biggest market ⁠on our ‌doorstep, given protectionist 'Made in Europe' proposals - and builds new ones with ⁠markets worldwide," said Mike Hawes, CEO of the Society of Motor Manufacturers and Traders.

    The EU, U.S. and China are among the biggest export destinations for British automobiles.

    Overall UK vehicle production, including that of commercial vehicles, fell 13.6 per cent ‌to 67,415 units, data from SMMT showed.

    Commercial vehicle production extended its decline for ⁠the tenth straight month following a major plant restructuring, falling 68.6 per cent to 2,166 units. However, the latest independent outlook has reaffirmed prior expectations of overall UK car production growing to about 790,000 units in 2026, SMMT added.

    Source: economictimes