UK car production rises 13.3% in May
By Iain Gilbert
Date: Thursday 30 Jun 2022
(Sharecast News) - UK car production rose 13.3% in May, with 62,284 units leaving factory gates.
According to the Society of Motor Manufacturers and Traders May's increase, the first since June 2021, came despite the closure of a major car plant in 2021, along with key model changeover at another.
However, the SMMT also noted that May's figures must "be viewed in context" against 2021's when the industry was "still suffering significantly" from Covid-19 pandemic-related headwinds.
Despite the increase, output still remains 46.3% below 2019 levels, with ongoing supply chain issues, increasing economic uncertainty, rising business costs, and disruptions caused by the war in Ukraine all weighing on the sector.
Production for both overseas and domestic markets increased in May, up 8.9% and 39.5%, respectively, as exports made up 82.1% of all new cars built, with almost six in ten of these destined for the EU. Shipments to the US decreased by 35.4%.
Battery electric car production more than doubled, up 108.3% at 4,525 built as UK car makers continued to build their latest and greenest zero and low emission models at pace.
Reporting by Iain Gilbert at Sharecast.com
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