Car production 'back on track' after increase in vehicles built in UK
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'Renewed confidence': UK car production rose 14.8% in November
Car production is ‘back on track' after another increase in vehicles built in the UK, according to a new report.
The Society of Motor Manufactures and Traders (SMMT) said production rose 14.8 per cent in November compared with the same month last year. A total of 91,923 cars were built, up 11,832 - the best performance for the month since 2020.
Production for overseas markets was up 15 per cent, driven mainly by the EU, China and Turkey, with Europe accounting for 61 per cent of shipments. The volume of battery electric, plug-in hybrid and hybrid vehicles rose 20 per cent to 35,169 - 38.3 per cent of output.
SMMT chief Mike Hawes said: ‘Production is firmly back on track following tough Covid years and supply chain challenges.
‘With significant investment committed to UK automotive manufacturing, and production volumes increasing, there is renewed confidence in the sector.'
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Car production is ‘back on track' after another increase in vehicles built in the UK, according to a new report.
The Society of Motor Manufactures and Traders (SMMT) said production rose 14.8 per cent in November compared with the same month last year. A total of 91,923 cars were built, up 11,832 - the best performance for the month since 2020.
Production for overseas markets was up 15 per cent, driven mainly by the EU, China and Turkey, with Europe accounting for 61 per cent of shipments. The volume of battery electric, plug-in hybrid and hybrid vehicles rose 20 per cent to 35,169 - 38.3 per cent of output.
SMMT chief Mike Hawes said: ‘Production is firmly back on track following tough Covid years and supply chain challenges.
‘With significant investment committed to UK automotive manufacturing, and production volumes increasing, there is renewed confidence in the sector.'
RELATED ARTICLES
Previous
1
Next
Co-op Bank on brink of returning to mutual ownership as it... Rescue deal to secure rare stamp dealer Stanley Gibbons'... It's show time! Movie giants Warner Brothers and Paramount... ALEX BRUMMER: Falling inflation gives the Tories a fighting...
Share this article
Share
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account
DIY INVESTING PLATFORMS
Easy investing
Stocks & shares Isa
£1.50 fund dealing
0.25% fee on fund holdings
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
From £4.99 a month
Trade shares and funds for £3.99
Social investing
Social investing
Share investing
30+ million global community
No account fee
Investment account
Free share dealing
Free fractional share*
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence. *T&Cs apply.
> Compare the best investing platform for you
If you loved this article therefore you would like to get more info relating to wooden door kindly visit our own website.
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