UK car output slumps nearly 11% in July on weak export demand

LONDON (Reuters) - British new car production fell by an annual 10.6 percent in July, the 14th consecutive month of declines due to weak demand in EU and Asian markets and model changes, an industry body said on Thursday. Car demand has been hit by a number of factors in recent months including a slump in sales of diesel vehicles in Europe and weakening demand in China, the world's biggest automotive market. Last month, British car factories churned out 108,239 cars, hit by a 14.6% drop in exports, which account for four in five vehicles, whilst production for domestic demand rose 10.2%, the Society of Motor Manufacturers and Traders (SMMT) said

Reuters August 29, 2019 06:07:06 IST
UK car output slumps nearly 11% in July on weak export demand

UK car output slumps nearly 11 in July on weak export demand

LONDON (Reuters) - British new car production fell by an annual 10.6 percent in July, the 14th consecutive month of declines due to weak demand in EU and Asian markets and model changes, an industry body said on Thursday.

Car demand has been hit by a number of factors in recent months including a slump in sales of diesel vehicles in Europe and weakening demand in China, the world's biggest automotive market.

Last month, British car factories churned out 108,239 cars, hit by a 14.6% drop in exports, which account for four in five vehicles, whilst production for domestic demand rose 10.2%, the Society of Motor Manufacturers and Traders (SMMT) said.

"The sector is overwhelmingly reliant on exports and the global headwinds are strong, with escalating trade tensions, softening demand and significant technological change," said SMMT Chief Executive Mike Hawes.

"The importance of maintaining the UK’s global competitiveness has never been more important so we need a Brexit deal," he added.

(Reporting by Costas Pitas; editing by Stephen Addison)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.