2024.02.2913:22:00UTC+00UK Car Production Surges 21.0% In January: SMMT

Car production in the United Kingdom grew sharply at the start of the year amid strong demand and abating supply chain disruptions, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.

Total car production climbed 21.0 percent year-over-year, which was the best January performance since 2021 and the fifth straight month of growth.

There were 82,997 units produced in January, up from 68,575 in the same month of 2023.

Demand from the domestic market increased by 64.5 percent, and that from the foreign market grew by 11.6 percent in 2022.

The EU remained the industry's largest global market, claiming 53.2 percent of exports, followed by the US with 15.0 percent.

Data showed that electrified vehicle production continued to increase by 4.5 percent to 29,590 units in January.

"The forthcoming budget is a chance for the government to do just that by introducing measures to boost UK automotive manufacturing, focused on energy, investment competitiveness, and market demand," Mike Hawes, SMMT Chief Executive, said.