Business

British automobile output drops annual 11 p.c in July

LONDON (Reuters) – British automobile manufacturing fell 11 p.c year-on-year in July, hit by mannequin modifications, seasonal changes and preparations for harder new emissions requirements, an business physique stated on Thursday.

FILE PHOTO: New Land Rover vehicles are seen in a car parking zone on the Jaguar Land Rover plant at Halewood in Liverpool, northern England, September 12 , 2016. REUTERS/Phil Noble/File Photo

Output stood at 121,051 items final month, the Society of Motor Manufacturers and Traders (SMMT) stated, with demand at home slumping 35 p.c in contrast with a drop in exports of four.2 p.c.

The SMMT additionally stated July final 12 months had been a very robust month because of the launch of a number of new fashions.

“The bigger picture is complex and month-by-month fluctuations are inevitable as manufacturers manage product cycles, operational changes and the delicate balance of supply and demand from market to market,” stated SMMT Chief Executive Mike Hawes.

The sector, which is closely reliant on European and global provide chains, is anxious that any Brexit loss of free and unfettered commerce with the European Union, its largest export market, might increase prices and result in delays at ports.

“To ensure future growth, we need political and economic clarity at home, and the continuation of beneficial trading arrangements with the EU and other key markets,” stated Hawes.

Reporting by Costas Pitas; enhancing by Stephen Addison

Our Standards:The Thomson Reuters Trust Principles.

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