U.K. Car Production Flat as Exports Hit Record High

Year-on-year output of new cars in the U.K. was unchanged in January, but exports set a new record for the month, the Society of Motor Manufacturers and Traders reports.

Production totaled 147,500 units in January. Output of vehicles for export rose 2% to 119,300 vehicles. But cars manufactured for the domestic market dropped for the sixth consecutive month, this time by 6% to 28,200 units.

SMMT says the uptick in export volume underscores the importance of Britain establishing open trade agreements with Europe after it exits the EU next year.​​​​