British car output reaches 17-yr high on export growth

British car output reaches 17-yr high on export growth

How many cars produced in the United Kingdom reached a 17-year high this past year, as stated by the business ‘s trade body.

About 1.7 million automobiles rolled off production lines in 2016, a increase of 8.5% to the year before.

The Society of Motor Manufacturers and Traders (SMMT) included that exports increased 10.3% to 1.35 million vehicles, an archive for the second successive year.

But SMMT head Paul Hawes repeated anxieties that investment would suffer without an appropriate Post Brexit EU trade offer.

Mister Hawes said that car production was on course to achieve an all time high before 2020. But the SMMT’s assertion sounded a note of warning after disclosing that investment by the business fell to 1.66bn last year, compared with about 2.5bn lately.

On Tuesday, Mr Hawes told MPs on the Treasury Board that many car companies are putting off investment until there is more clarity around the UK’s trade relationships with the EU.

‘Redline’

“We want trade bargains but they have to be the correct deals, not dashed offers. Failure to do so could harm UK car making beyond repair.”

However, Business Secretary Greg Clark insisted the car industry would prosper, saying: “Our contemporary industrial method could make great britain one of the most aggressive places in the world to grow a company and these figures show why The United Kingdom ‘s auto sector has such an essential job to play as we build on our advantages and extend superiority into the future.”

The imposition of charges will be “a red line for the industry,” he explained. “There could be an impact on demand and jobs – that is a cliff edge we wish to avert.”

Mr Hawes said: “Considerable investment in new plants and products within the past few years has pushed this increase, not a PostBrexit bounce.

US growth

British auto exports to European countries increased by 7.5% to 758,680 this past year, accounting for half of all exports, the SMMT said.

There was additionally a big increase in automobile exports to the United States, where demand jumped by nearly half, accounting for around 14% of all http://www.professionalsfinance.com.au/ British car exports.

Growths were also found in Bulgaria, Japan and Canada, using a modest 3% growth in Cina, the SMMT documented.

The UK has 15 car plants, directly using 169,000 employees and 814,000 across the market.

The top English best-sellers worldwide past year were the Nissan Qashqai, Toyota Auris, Small, Vauxhall Astra, Array Rover Activity http://money.cnn.com/ and Evoque, Land-Rover Finding Activity, Honda Civic, Jaguar F-Pace and Jaguar XE.

Jaguar-Land Rover improved production by 1-1% past year to 544,000, Nissan’s grew by 6.5% to 507,000, the Little by 4.9% to 210,000, and Ford by 12% to 134,000.

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