British car manufacturing up 13.1% in February
Output for the domestic market rose 24.4% in the month, accompanied by a 9.1% increase in export production.
February’s performance puts production for the year-to-date up 10.6% over the same period last year.
Mike Hawes, SMMT chief executive, commented: “The UK automotive industry’s impressive growth continued into February, with demand from both domestic and overseas customers showing no signs of slowing. The outlook for the sector is bright, but much will depend on global political and economic conditions in the months and years to come.”
John Leech, UK head of automotive at KPMG, added: “Demand remains buoyant in the UK, EU and US and I believe that demand has bottomed out in China and Russia. Although the UK and US markets are close to their peaks, the EU is still below its pre-recession demand levels suggesting that there is still plenty of room for further growth in our major export market.
“2016 is shaping up to be a great year for UK car manufacturers and I forecast that the all-time production record will be set in 2020.”