UK passenger car output surges to 17-year high
Exports continued to drive British passenger car manufacturing in March, as demand rose 10.6% in the month, according to figures released by the Society of Motor Manufacturers and Traders (SMMT), monitored by Kallanish. This represents the best performance since the year 2000, the society says.
170,691 cars were built in the UK in March, up 7.3%, with overseas buyers ordering more than 76% of output.
Overseas demand also helped push overall production to a 17-year high in the first quarter, to 471,695 units, an increase of 7.6%. This helped offset a decline at home, with demand down -4.3% in the quarter.
Mar 2016 | Mar 2017 | % change | Y-t-d 2016 | Y-t-d 2017 | % change | |
Total | 159,074 | 170,691 | 7.3% | 438,390 | 471,695 | 7.6 |
Home | 40,742 | 39,853 | -2.2% | 108,737 | 104,025 | -4.3 |
Export | 118,332 | 130838 | 10.6% | 329,653 | 367,670 | 11.5 |
% export | 74.4% | 76.7% | 75.2% | 77.9% |
Source: SMMT
UK commercial vehicle (CV) production meanwhile fell back -4.3% in March to 8,041 units. Exports rose for seventh consecutive month however, with vehicles shipped overseas up 7.8% to 4,855 units.
The Q1 performance was stable, SMMT says, down marginally by -0.7% as export demand grew 21.2% to account for two thirds of production volumes.
Mar 2016 | Mar 2017 | % change | Y-t-d 2016 | Y-t-d 2017 | % change | |
Total | 8,398 | 8,041 | -4.3% | 23,639 | 23,483 | -0.7% |
Home | 3,868 | 3,156 | -18.4% | 11,189 | 8,391 | -25.0% |
Export | 4,530 | 4,885 | 7.8% | 12,450 | 15,092 | 21.2% |
% export | 53.9% | 60.8% | 52.7% | 64.3% |
Source: SMMT
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Anonymous
Very good overview of the weekly steel market.
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