UK car production dropped by 15.3% year-on-year in October 2024, totaling 77,484 units, marking the eighth straight month of decline.
UK car production declines again in October
This decrease is primarily due to ongoing retooling at manufacturing plants in preparation for the next generation of zero-emission vehicles. The Society of Motor Manufacturers and Traders (SMMT) also reported a 10.8% decline in car production for the first ten months of 2024 compared to the same period last year, with a notable reduction in exports being a major factor.
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While production for the domestic market increased by 5.3%, exports fell by 14.8%. SMMT CEO Mike Hawes highlighted the challenging market conditions, noting, "Global market slowdowns – particularly in the EV sector – are affecting production, with the UK facing an especially tough situation due to having some of the most ambitious targets and accelerated timelines, yet lacking the consumer incentives needed to stimulate demand."
