07-27-2017, 09:04 AM
...And there it is.
Car production falls almost 14% as UK sales dip.
'UK car production fell by 13.7% in June compared to a year earlier - the third month in a row that output has fallen.
The Society of Motor Manufacturers and Traders (SMMT) said the UK market was cooling in line with forecasts,
following a long period of record growth.
The industry is likely to fall short of its ambition to produce more than two million cars a year by 2020, it said.
The SMMT said uncertainty over Brexit was an added cause for concern.
But a spokesperson for the Department for Exiting the European Union said the government was determined that
the UK would continue to be "one of the most competitive locations in the world" for automotive manufacturing.
The fall in production mirrored a decline in UK car sales.
Over the first six months of this year, sales were distorted by a rise in Vehicle Excise Duty in April, which prompted
drivers to bring forward purchases of new cars.
But comparing the first six months of 2017 with the equivalent period in 2016 still showed a fall of 9.5% in UK sales,
the SMMT said.
Overseas demand for British-built cars has remained broadly steady in the first half of this year, falling only by 0.9%
compared to the same period last year. As a result, total output for the year is 2.9% lower than a year ago.
Independent forecasters are predicting output will pick up in the second half of the year, thanks to new and updated
models coming into production. However the SMMT warns that output could fall in 2019, if the UK fails to secure a
deal with the EU, or at least an interim agreement, that maintains current trading conditions after Brexit...'
SOURCE:
Car production falls almost 14% as UK sales dip.
'UK car production fell by 13.7% in June compared to a year earlier - the third month in a row that output has fallen.
The Society of Motor Manufacturers and Traders (SMMT) said the UK market was cooling in line with forecasts,
following a long period of record growth.
The industry is likely to fall short of its ambition to produce more than two million cars a year by 2020, it said.
The SMMT said uncertainty over Brexit was an added cause for concern.
But a spokesperson for the Department for Exiting the European Union said the government was determined that
the UK would continue to be "one of the most competitive locations in the world" for automotive manufacturing.
The fall in production mirrored a decline in UK car sales.
Over the first six months of this year, sales were distorted by a rise in Vehicle Excise Duty in April, which prompted
drivers to bring forward purchases of new cars.
But comparing the first six months of 2017 with the equivalent period in 2016 still showed a fall of 9.5% in UK sales,
the SMMT said.
Overseas demand for British-built cars has remained broadly steady in the first half of this year, falling only by 0.9%
compared to the same period last year. As a result, total output for the year is 2.9% lower than a year ago.
Independent forecasters are predicting output will pick up in the second half of the year, thanks to new and updated
models coming into production. However the SMMT warns that output could fall in 2019, if the UK fails to secure a
deal with the EU, or at least an interim agreement, that maintains current trading conditions after Brexit...'
SOURCE:
Edith Head Gives Good Wardrobe.