UK: Car output down 2.7 percent in February image

UK car production remained just behind 2013 levels, slipping 2.7 percent in February to 133,730 units, the Society of Motor Manufacturers and Traders (SMMT) announced on Thursday.

On the same time, SMMT said output levels for 2014-to-date was also down by 1.4 percent at 262,645 units.

However export levels are up 3.5 percent to 105,817 vehicles – up from 102,207 in February 2013 – and the organization estimates that, overall, in 2014 the auto industry is set to for growth, as fresh investments are made and new models come to the market.

“UK car manufacturing has been broadly stable over the first two months of 2014, dipping only marginally due to forecast product cycle changes,” said Mike Hawes, SMMT Chief Executive.

Last month UK car sales rose 3 percent to a total of 68,736 vehicles – and the good news is that they have now risen every month for the past two years.

Car manufacturing

Feb-13

Feb-14

% Change

YTD-13

YTD-14

% Change

Total

137,458

133,730

-2.7%

266,507

262,645

-1.4%

Home

35,251

27,913

-20.8%

62,162

53,294

-14.3%

Export

102,207

105,817

3.5%

204,345

209,351

2.4%

% export

74.4%

79.1%

76.7%

79.7%

The announcement comes shortly after the Office for National Statistics (ONS), on Thursday said the number of peoples out-of-work in the United Kingdom fell by 63,000, and now stands at 7.2 percent of the total population able to work.

“Another significant fall in unemployment is a sign our long-term economic plan is working, providing security and chances for hard-working people,” Prime Minister David Cameron said on his Twitter page.

UK Car production February 2014