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UK car production stabilises in March but exports take a hit

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UK vehicle production fell -8.2% in March to 72,511 units, according to the Society of Motor Manufacturers and Traders (SMMT).

Production of cars was 69,755 cars, down -0.8%) while 2,756 commercial vehicles (down -68.3%) were produced following strong growth last year.

Exports of cars and CVs both fell, down -4.3% and -54.0%, to 49,339 and 1,602 units respectively.

EU demand for UK-built cars, rose for a fourth consecutive month,2 with exports up 4.8% year on year.

That growth, however, was offset by a decline in production for the US (-24.1%), China (-47.9%) and Japan (-25.3%), which together accounted for 18.6% of all shipments.

Car output for British buyers, meanwhile, rose 8.7%, while CV production for the UK fell -77.9%.

Mike Hawes, SMMT chief executive, said: “Car production stabilising in March is welcome news for both assembly and the wider supply chain.

“Government’s recent intervention to bring down electricity costs will provide a major and long-called for boost, but the scheme’s benefits must be delivered urgently as the geopolitical situation offers little optimism.”





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