SMMT: Six consecutive months of progress for UK automotive manufacturing

UK automotive manufacturing rose once more in February, up 14.6% to 79,907 items, in response to the most recent figures revealed at present by the Society of Motor Producers and Merchants (SMMT). It was the sixth consecutive month of progress and finest February efficiency since 2021,¹ with almost all quantity producers posting uplifts, pushed by output for the home market which grew 58.0% to twenty,658 items, a rise of seven,585.

Volumes for export, in the meantime, rose 4.6% to 59,249, representing an increase of two,615 items, with three quarters (74.1%) of all vehicles made within the month shipped abroad. The European Union acquired by far the biggest proportion of exports (59.9%) adopted by the US (14.8%), China (7.1%), Australia (3.3%) and Turkey (2.3%). Volumes to all these markets aside from Turkey (-20.3%) rose, led by the US up 95.6%.

Manufacturing of electrified autos (battery electrical, plug-in hybrid and hybrid) maintained its latest stage, representing greater than a 3rd (36.3%) of all output within the month. Factories turned out a mixed 29,038 items, up 6.0% on the 12 months earlier than, and with two thirds (67.3%) of those fashions constructed for export proof of the necessity to ramp up UK battery manufacturing and electrical automobile provide chain capabilities.

Mike Hawes, SMMT Chief Government, mentioned

One other month of progress for UK automotive manufacturing is welcome information, reflecting sturdy demand at dwelling and all over the world for the most recent British-built vehicles. The trade is transitioning from inside combustion engine vehicles to electrified autos, constructing on the large funding commitments made final 12 months. The UK trade faces stiff competitors, nonetheless, as international opponents search to safe new fashions and applied sciences so a dedication to our industrial competitiveness, from all political events on this seemingly election 12 months, should be maintained.

Up to now in 2024, UK automotive manufacturing is up 17.8% at 162,904 items, the most effective begin to the 12 months since 2021.² Nevertheless, with main producers not too long ago asserting the tip of manufacturing of some long-running fashions as they gear as much as make new electrical variants, manufacturing volumes could also be extra variable within the months forward.

SOURCE: SMMT