UK car production up 62.7% in February

UK car production increased sharply in February, figures have shown, rising 62.7% on the same month last year.

It marks the fourth month in a row that output has seen a year-on-year increase, according to the Society of Motor Manufacturers and Traders (SMMT).

Paul Everitt, SMMT chief executive, said the figures were “encouraging” and attributed the rise to the weakness of the pound helping exporters.

UK engine production was up 58.9% in February, said the SMMT.

“Sterling movement has made UK-built products more competitive, enabling the UK to work through challenging economic conditions,” Mr Everitt said.

“UK-built engines and vehicles are exported to over 100 markets worldwide, offering some resilience to local market conditions,” he added.

In total, 97,255 cars were produced in February, with 70,482 of these – or 72.5% – exported.

Although Mr Everitt was optimistic about the motor industry’s future, he said it was important that the Budget on March 24 did nothing to undermine confidence.

“Industry looks to next week’s Budget to maintain stability in demand through continued investment in new products.

“Manufacturers and government need to work together to ensure that there is continued investment in new products and technology to sustain future growth,” Mr Everitt said.

Source: BBC News