Brexit is perhaps just over a month away, and while many companies face an uncertain future, Nokian Tyres is in the happy position of being relatively unconcerned about the UK rescinding its European Union membership. That’s just as well, as the Finnish tyre maker has other things to worry about.
British car manufacturing output declined 10.6 per cent in July, with 108,239 units produced. This was the 14th successive month of decline. According to the Society of Motor Manufacturers and Traders (SMMT), production was affected in July as ongoing weakness in major EU and Asian markets coupled with some key model changes affected performance.
Another blow on the automotive industry’s chin as we inch closer towards a no-deal Brexit. The Society of Motor Manufacturers and Traders (SMMT) has released its latest UK manufacturing figures, and they make a depressing read. British car manufacturing output fell by more than a fifth in the first half of 2019, while commercial vehicle production was down more than 16 per cent and engine production almost 11 per cent. KPMG considers these numbers “worrying.”
British car production declined -14.4 per cent in March, falling for the 10th month in a row with 126,195 units rolling off factory lines, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Production for both home and overseas markets declined in double digits, down -18.1 per cent and -13.4 per cent respectively.
UK car manufacturing fell by -16.8 per cent in September 2018, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Compared with the same month last year, 25,610 fewer cars rolled off production lines. September’s decline caps off a turbulent first three quarters as global trade tensions, model changes and uncertainty over diesel and Brexit were exacerbated by testing backlogs due to new emissions regulations.
A new report based on International Organization of Motor Vehicle Manufacturers and a ReportLinker algorithm and analysts forecasts that new passenger car sales in China should reach 29.7 million units a year by 2020.
This means that between 2017 and 2020, new car sales in that nation will maintain an annualized growth rate (CAGR) of 7.06 per cent. That rate of growth is slower than it has been in recent years up until now, but it remains a sustainable one.
Following the publication of the SMMT’s UK monthly automotive manufacturing figures for June, Chris Bosworth, director of strategy at Close Brothers Motor Finance, suggests that the current growth spurt may be coming to a close. The extent to which this will be affected by Brexit remains to be seen, Bosworth adds, though it coincides with what he calls an “inflection point” for the UK car market.
UK car makers reported their 11th consecutive month of growth in June, according to figures released by SMMT. Production grew 10.4 per cent to 158,641 units – the highest level for the month since 1998, when volumes reached 172,232.
Ian Fletcher, Principal Analyst with IHS Automotive, offers the following comment on the news that Jaguar Land Rover (JLR) is to open a factory in Slovakia.
New figures released by the SMMT show the UK surpassed the 500,000 milestone for car production this April, with 530,505 new cars built so far this year. Production for the domestic market is up 19.4 per cent in the first four months of the year, reflecting strong performance in the UK new car market.
The British car industry is not only alive and well – it is exporting in greater numbers than it has in years. Figures released by the Society of Motor Manufacturers and Traders (SMMT) show that exports of UK-built cars to China have increased five-fold since 2009. In 2014,137,410 cars made here were exported to China, an increase of 14.5 per cent over 2013. Only the UK bought more British-built cars than China last year, with exports to China greater than combined UK exports to Brazil, India and Russia.
Škoda has produced their 17 millionth vehicle. The jubilee car – a Škoda Rapid Spaceback in ‘Corrida Red’ – ran off the production line at the Škoda headquarters in Mladá Boleslav. The vehicle is going to a customer in Germany. This production milestone is a highlight of the Czech carmaker’s successful growth strategy. In 2014 Škoda manufactured and sold more than 1 million cars for the first time during a single year in the company’s 120-year history. Over the coming years, Škoda plans to increase sales to at least 1.5 million per year.
Although slightly fewer cars were manufactured in the UK last month than in September 2013, production in the first nine months of 2014 was the highest in six years. Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, commented that “it is testament to the strength of the automotive industry that it continues to break records – yielding the best year-to-date performance for six years and comfortably surpassing one million units.” The reason for the “slight dip” in output in September was, he added, that some plants undertook retooling for new models; this investment, he added, will help increase future production volumes.
Car production in the UK has been described as “robust” by the Society of Motor Manufacturers and Traders, who report that manufacturing volumes rose 3.5 per cent year-on-year between January and June 2014 to 791,314 units. Output in the month of June was 136,419 vehicles, 3.7 per cent higher than a year earlier and a result driven by a 16.5 per cent growth in production for the UK market.
According to the latest figures from the Society of Motor Manufacturers and Traders, the manufacture of cars in the UK picked up pace in March due to improving domestic and export sales. UK car production rose 12 per cent during the month to 142,158 units, bringing 2014 to-date growth to 2.9 per cent. Production of cars intended for sale in the UK increased 18.2 per cent year-on-year to 33,221 units, although the year to date production count of 86,505 units is still 4.1 per cent down on last year. Production of cars for export markets rose 10.3 per cent year-on-year to 108,947 units, while year to date figures are 5.0 per cent higher than during the corresponding period of 2013, at 318,298 units.
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