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Auto Output in U.K. Fell 15% in February

New-car production in the U.K. fell 15% last month, the ninth consecutive month of year-on-year shrinkage, the Society of Motor Manufacturers and Traders says.

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New-car production in the U.K. fell 15% last month, the ninth consecutive month of year-on-year shrinkage, the Society of Motor Manufacturers and Traders says.

SMMT says the decline is an ominous signal that Britain’s auto industry won’t be able to survive a “no-deal” exit from the European Union at the end of this month without serious damage. The U.K.’s passenger vehicle production last year dropped 9%.

February’s output for domestic and overseas markets fell 11% to 24,200 units and 16% to 98,000 units, respectively. Most of the U.K.’s exports are to the EU, and 60% of the parts used in those vehicles are imported from the trade bloc.

Britain’s exports to China plunged 56% in the first two months of 2019, according to the trade group.

Gardner Business Media - Strategic Business Solutions