The 151,795 vehicles built in October represents a month-on-month 1% drop; of these, over 80% were built for export. This represents a growth of 1.7% compared to the same month last year, and offsets a near-11% decline in production for the domestic market. In spite of this, demand for new vehicles from UK customers remains strong, with production up 3.3% to its highest level since 2005. Overall production figures hit a 17-year record of 1,444,248 – a rise of 9.2% on last year.
“October’s figures underline the export-led nature of the industry, with eight out of ten cars built for overseas customers,” said Mike Hawes, chief executive of the SMMT. “Despite model changes, which have ended the consistent growth pattern of the last year or so, we are still on track for a record number of exports.”
Hawes also called on government to play their part, especially with Brexit worries on the horizon. “It is crucial that British-built cars remain attractive to international buyers and exports are not subject to additional tariffs, costs and other barriers to successful trade,” he said. “It is also essential that government ensures that there is economic stability and a competitive business environment to ensure we continue to attract the global investment that is behind this performance.”
