Data shows that, in total, 145,475 units were produced in February 2018, compared to 152,232 in the same month last year.
Production for the home market fell by 17.0% from 34,143 units in February 2017 to 28,336 units in February 2018 – the seventh consecutive month of decline at home. Meanwhile, exports declined by 0.8% from 118,089 units to 117,139 units.
Overall year-to-date output is down 2.3%, with 292,956 units rolling off production lines in the first two months of 2018.
Says SMMT chief Mike Hawes: “Another month of double digit decline in production for the UK is of considerable concern, but we hope that the degree of certainty provided by last week’s Brexit transition agreement will help stimulate business and consumer confidence over the coming months.
“These figures also highlight the scale of our sector’s dependency on exports, so a final deal that keeps our frictionless trade links with our biggest market, the EU, after December 2020 is now a pressing priority.”
Additional data from the SMMT shows that UK commercial vehicle (CV) manufacturing fell by almost a quarter in February, with 6,019 vehicles leaving production lines, compared to 7.940 in February 2017.
Production for both home and overseas markets fell considerably in the month, with demand down by 34.7% and 18.5%, respectively. Year-to-date CV making is down 21.6% on the same period last year.
However, there was “good news” for industry. A total of 254,607 engines were produced by British factories in February, compared to 237,803 in the same month last year – up 7.1%.
Exports jumped 16.1% as 157,880 units headed overseas, compared to 135,944 in February 2017. Year-to-date data shows engine manufacturing up 10.3% on last year.
Adds Hawes: “Record UK engine production in February is good news for the industry, a result of massive investment into high-tech factories, a productive workforce and a fully integrated and efficient supply chain. With six in every 10 engines built in the UK last month heading abroad, the importance of maintaining open trading links with Europe and other overseas markets is plain to see.”
IMAGE: SMMT/Newspress
