Society of Motor Manufacturers and Traders (SMMT) UK vehicle production data for July 2019
- cars made in Britain fall 18.9% y/y
SMMT said the decline in export orders was "primarily responsible"
- overseas shipments -20.2% since January
- production for the UK YTD -13.5%
SMMT comments:
- decline due to an "ongoing weakness in major EU and Asian markets coupled with some key model changes"
- global headwinds are strong
- escalating trade tensions
- softening demand
- significant technological change
- UK market also weak
- we need a Brexit deal - and quickly - to unlock investment and safeguard the long term future of a sector which has recently been such an international success story
