2022-11-25 11:24:05

UK Car Production Returns To Growth: SMMT

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RTTNews
By Renju Jaya

UK car production returned to growth in October underpinned by both domestic and foreign demand, data published by the Society of Motor Manufacturers and Traders showed Friday.

Car production grew 7.4 percent on a yearly basis in October, reversing a 6.0 percent decrease in September.

Demand from domestic market increased 12.5 percent and that from foreign market climbed 6.3 percent in October.

Still October's overall performance was -48.4 percent off 2019's total of 134,669 units.

The annual growth in shipment was driven by the 26.4 percent rise in exports to the U.S. and 6.0 percent increase in exports to Japan. Demand from South Korea and Australia surged 68.7 percent and 125.4 percent, respectively.

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