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UK Car Production Sees Sixth Consecutive Month of Growth with 14.6% Increase in February

Publish Date:2024/03/28

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UK car production in February increased by 14.6% to 79,907 units, marking the sixth consecutive month of growth, according to the Society of Motor Manufacturers and Traders (SMMT). This is the best performance for the month of February since 2021, with nearly all volume manufacturers reporting an uptick in production. The domestic market output saw a significant rise, growing by 58.0% to 20,658 units, an increase of 7,585 from the previous year. Justin Cox, an analyst at GlobalData, noted that despite the lingering effects of the global chip crisis into 2023, the February increase is a positive development for the UK's auto industry. He forecasts the UK car output to be around 800,000 units for the year, a figure significantly lower than pre-pandemic levels but expected to stabilize at around a million units per year in the medium term.

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Source:JUST AUTO

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