UK vehicle production for export sees October surge
UK car manufacturing dipped -1.0% in October, ending a 14-month run of growth for the industry, according to figures published by the Society of Motor Manufacturers and Traders (SMMT) monitored by Kallanish.
151,795 vehicles were built in the month, with production for export growing taking an 80.9% share of volumes. 122,765 cars were shipped to overseas customers, an uplift of 1.7% on the same month last year, and offsetting a -10.9% decline in production for the home market.
Despite the fall, domestic demand remains strong, with production in the year so far up 3.3% and at its highest level since 2005. Overall production levels, meanwhile, achieved a 17-year record of 1,444,248, up 9.2%.
Oct-15 | Oct-16 | % change | Y-t-d 15 | Y-t-d 16 | % change | |
Total | 153,283 | 151,795 | -1.0% | 1,322,751 | 1,444,248 | 9.2% |
Home | 32,264 | 29,030 | -10.9% | 310,540 | 320,841 | 3.3% |
Export | 120,719 | 122,765 | 1.7% | 1,012,211 | 1,123,407 | 11.0% |
% Export | 78.8% | 80.9% | 76.5% | 77.8% |
Source: SMMT
UK commercial vehicle (CV) manufacturing increased by 16.5% in October, with 9,312 vehicles leaving production lines last month, SMMT says.
A significant increase in overseas demand fuelled the growth, with exports rising 86.5% to counterbalance a -46.4% decline in domestic production. Year-to-date figures show output for export remains ahead in 2016, up 12.8%, with more than half (55.6%) of UK-built CVs destined for overseas markets.
Oct-15 | Oct-16 | % change | Y-t-d 15 | Y-t-d 16 | % change | |
Total | 7,995 | 9,312 | 16.5% | 79,401 | 78,654 | -0.9% |
Home | 4,214 | 2,259 | -46.4% | 40,610 | 34,905 | -14.0% |
Export | 3,781 | 7,053 | 86.5% | 38,791 | 43,749 | 12.8% |
% Export | 47.3% | 75.7% | 48.9% | 55.6% |
Source: SMMT
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous