🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Weakening demand hits UK car production in September

Published 10/30/2019, 08:06 PM
Updated 10/30/2019, 08:11 PM
Weakening demand hits UK car production in September

LONDON (Reuters) - British car output dropped by an annual 3.8% in September, hit by weakening demand overseas and political and economic uncertainty at home as Brexit remains unresolved, an industry body said on Thursday.

Production stood at 122,256 vehicles, with volumes in the first nine months of the year down 15.6% to just under 1 million cars according to the Society of Motor Manufacturers and Traders (SMMT).

The global automotive industry has undergone a torrid year, hit by declining sales in China, trade-war worries between the world's two biggest economies, a slump in diesel sales in Europe and the need to invest heavily in electrification.

"Another bitterly disappointing month reflects domestic and international market contraction," said SMMT Chief Executive Mike Hawes.

"Most worrying of all though is the continued threat of a ‘no deal’ Brexit, something which has caused international investment to stall and cost UK operations hundreds of millions of pounds."

Brexit has been delayed for a third time, now until the end of January, and Britons will head to the polls in December for a snap election designed to break the impasse.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.