Britain’s car manufacturers endured another month of misery in July as exports took a hit and output slowed down for its 14th consecutive month.
Manufacturing output fell 10.6 per cent last month, with only 108,239 vehicles rolling off the production line, according to figures released this morning by the Society of Motor Manufacturers and Traders (SMMT).
Ongoing weakness in key Asian markets, coupled with lacklustre performance in Europe affected performance.
Production for export fell 14.6 per cent in July on a year-on-year basis, despite eight in every 10 cars produced in the UK were still shipped abroad.
Chief executive Mike Hawes said: “Another month of decline for UK car manufacturing is a serious concern.
“The sector is overwhelmingly reliant on exports and the global headwinds are strong, with escalating trade tensions, softening demand and significant technological change.
“With the UK market also weak, the importance of maintaining the UK’s global competitiveness has never been more important so we need a Brexit deal – and quickly – to unlock investment and safeguard the long term future of a sector which has recently been such an international success story.”
Last month it emerged Inward investment into the sector plummeted more than 70 per cent to just £90m in the first half of the year, as companies’ fears grew of a potential no-deal Brexit which they fear will plunge the sector into chaos.
Of this, only £67m came from companies making investments, with £23m coming from new government spending in June on electric car research.
Main image: Getty