UK car production driven by exports

23-08-2007

UK car production driven by exports
UK car production accelerated in the three months to July, with growth driven by a rise in exports, official figures show.

Over the period total car production was up 5.4 per cent on the previous three months, the Office for National Statistics (ONS) revealed.

But the seasonally-adjusted figures showed that production for the home market slumped by 5.9 per cent.

Instead the increase in the number of cars motoring off the production line was driven by a nine per cent rise in vehicles produced for the UK's export market.

Year-on-year, total car production was up 3.2 per cent in the three months to July, while total commercial vehicle production also rose.

However figures show that the manufacture of commercial vehicles is being driven by UK demand.

Seasonally adjusted data shows that total commercial vehicle production climbed by 2.2 per cent in the three months to July, when compared with the previous quarter. Separate figures showed the increase equated to a 9.9 per cent jump over the year, with non-seasonally adjusted data pointing to an increase in production for the home market and a slump in exports.

But while the UK's car industry appears to be in good health, US vehicle giant General Motors (GM) has announced a cut in production at six American plants as a result of falling sales.

Cutbacks at the factories, which make pick-up trucks and 4X4s, are being introduced as a result of falling sales, with GM blaming the drop in demand on high fuel costs and tough competition.

"Reducing overtime production enables us to reduce pressure for excessive incentive spending, helping us keep brand and product residual values as high as we can," explained GM spokesman Tom Wickham.






Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure