British car production posts double digit fall amid Brexit uncertainty

LONDON, March 28 . British car production dropped more than 15 percent in the year to February, marking ninth straight months of decline, according to data published Wednesday by the Society of Motor Manufacturers and Traders (SMMT).

Figures showed car production in Britain fell by 15.3 percent in February, compare with a year before, with 123,203 units manufactured.

Production for the domestic and export markets decreased year-on-year by 11 percent and 16.4 percent, respectively.
Statistics suggested that despite exports decline, overseas demand continued to play a significant role in car output, with accounting for nearly 80 percent of cars produced.

“The ninth months of decline for UK car production should be a wake-up call for anyone who thinks this industry, already challenged by international trade hostilities, declining markets and technological disruption, could survive a ‘no deal’ Brexit without serious damage,” said Mike Hawes, chief executive of SMMT.

“A managed no deal is a fantasy. Uncertainty has already paralysed investment, cost jobs and damaged our global reputation,” Hawes said.

“Business anxiety has now reached fever pitch, and we desperately need parliament to come together to restore stability so that we can start to rebuild investor confidence and get back to the business of delivering for the economy,” Hawes added. Enditem