Motor Trade Insurance
Menu

Number Of New Cars Built In UK Falls

April 30, 2019 by Logan Biggs

There is yet more bad news for the new car market here in the UK with the announcement that there has been another fall in the number of new cars built in March 2019. This is the tenth month in succession that this has happened and is a concerning fact for many in the motor trade industry- in particular motor traders.

According to the Society of Motor Manufacturers and Traders (SMMT), in March 2019 there were 126,195 new cars manufactured in the UK whereas in March 2018 there were 147,505. This fall of 21,310 equates to 14.4% – a large percentage.

There were 26,873 new cars built in March 2019 for the home market but in March 2018 there were 32,808 – a drop of 18.1%. There were 99,322 new cars manufactured in March 2019 for export whereas in March 2018 there were 114,697 – a reduction of 13.4%. The percentage of cars being built for export rose from 77.8% in March 2018 to 78.7% in March 2019.

On a year to date basis the number of new cars built to March 2019 totalled 370,289 whereas on a year to date basis to March 2018 the figure was 440,530. This drop of 70,241 equates to 15.9% – a large percentage.

On a year to date basis to March 2019, there were 78,940 new cars built for the home market yet on a year to date basis to March 2018 the figure was 89,392 – a drop of 11.7%. On a year to date basis to March 2019 there were 291,349 new cars built for export whereas for the same period to March 2018 there were 351,138 – a fall of 17%. The percentage of cars being built for export in the year to date to March 2019 was 78.7% whereas in the same period to March 2018 the figure was 79.7%.

New car manufacturing no doubt contributes so much to the UK economy so continuing drops as mentioned above do not bode well. Are we going to see more people being made redundant that are involved in the building of new cars? A drop in car production also has implications for other parts of the motor trade industry such as the sale of new and used cars and garages involved in the servicing of such cars. In addition, there is also some concern due to the uncertainty surrounding Brexit.


No Comments »

No comments yet.

Leave a comment

Mailing List

To get the latest news and offers from MTI, enter your email below.

Subscribe to the Mailing List
FacebookTwitterGoogle PlusLinked In