Analysts have warned that the dire effects of the COVID-19 pandemic on car production are not fully reflected in the March figures, released today by the Society of Motor Manufacturers and Traders. Andrew Burn, partner and head of automotive at KPMG UK said that while the March data shows that conditions were difficult, April’s numbers will show the full extent of the effects of the UK lockdown on the sector.
UK car manufacturing fell -37.6 per cent in March, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). 78,767 vehicles left factory gates in the month, some 47,428 fewer than the previous year, as the coronavirus crisis caused UK car plants to close. 140 days-worth of lost production have been lost as a result.
Car production in the UK fell by 16.5 per cent year-on-year in November, with figures from the Motor Manufacturers and Traders (SMMT) showing that 107,753 units were manufactured during the month. Output for home and overseas markets declined 26.6 per cent and 14.2 per cent respectively.
Figures released by the Motor Manufacturers and Traders (SMMT) show that UK car production resumed its downward trend in September, with output falling 3.8 per cent to round off a turbulent first nine months. Production during the month totalled 122,256 units, almost 5,000 fewer than September last year.
With fewer than 20 days to go before the UK is due to leave the EU, the British automotive industry is urging an end to talk of ‘no deal’ and for all sides to focus energies on an orderly withdrawal to safeguard jobs and the sector’s long-term survival. The call comes as the Society of Motor Manufacturers and Traders (SMMT) publishes the results of a new survey revealing the escalating fears of an industry dependent on free and frictionless trade with the EU.
Brexit is perhaps just over a month away, and while many companies face an uncertain future, Nokian Tyres is in the happy position of being relatively unconcerned about the UK rescinding its European Union membership. That’s just as well, as the Finnish tyre maker has other things to worry about.
British car manufacturing output declined 10.6 per cent in July, with 108,239 units produced. This was the 14th successive month of decline. According to the Society of Motor Manufacturers and Traders (SMMT), production was affected in July as ongoing weakness in major EU and Asian markets coupled with some key model changes affected performance.
Another blow on the automotive industry’s chin as we inch closer towards a no-deal Brexit. The Society of Motor Manufacturers and Traders (SMMT) has released its latest UK manufacturing figures, and they make a depressing read. British car manufacturing output fell by more than a fifth in the first half of 2019, while commercial vehicle production was down more than 16 per cent and engine production almost 11 per cent. KPMG considers these numbers “worrying.”
British car production declined -14.4 per cent in March, falling for the 10th month in a row with 126,195 units rolling off factory lines, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Production for both home and overseas markets declined in double digits, down -18.1 per cent and -13.4 per cent respectively.
UK car manufacturing fell by -16.8 per cent in September 2018, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Compared with the same month last year, 25,610 fewer cars rolled off production lines. September’s decline caps off a turbulent first three quarters as global trade tensions, model changes and uncertainty over diesel and Brexit were exacerbated by testing backlogs due to new emissions regulations.
A new report based on International Organization of Motor Vehicle Manufacturers and a ReportLinker algorithm and analysts forecasts that new passenger car sales in China should reach 29.7 million units a year by 2020.
This means that between 2017 and 2020, new car sales in that nation will maintain an annualized growth rate (CAGR) of 7.06 per cent. That rate of growth is slower than it has been in recent years up until now, but it remains a sustainable one.
Following the publication of the SMMT’s UK monthly automotive manufacturing figures for June, Chris Bosworth, director of strategy at Close Brothers Motor Finance, suggests that the current growth spurt may be coming to a close. The extent to which this will be affected by Brexit remains to be seen, Bosworth adds, though it coincides with what he calls an “inflection point” for the UK car market.
UK car makers reported their 11th consecutive month of growth in June, according to figures released by SMMT. Production grew 10.4 per cent to 158,641 units – the highest level for the month since 1998, when volumes reached 172,232.
New figures released by the SMMT show the UK surpassed the 500,000 milestone for car production this April, with 530,505 new cars built so far this year. Production for the domestic market is up 19.4 per cent in the first four months of the year, reflecting strong performance in the UK new car market.