Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Car production in the United Kingdom (UK) rose 46.6pc in March compared to same period in 2020 — a time when units were forced to shut down temporarily when the pandemic hit the country. UK auto manufacturers continue to reel under the global shortage of semiconductors chips.

 

In March, car production reached 115,498 vehicles, according to data released by Society of Motor Manufacturers and Traders (SMMT). In the previous year, UK automotive plants were shuttered in mid-March and only 78,767 units were produced. 
 

Car output for domestic market increased 19pc to 20,269 units while output for exports jumped 54.1pc to 95,229 vehicles. Of the overall output, 82pc was exported in March. Export destinations are recovering, noted SMMT. Exports to the US rose by 36.4pc, EU by 33.5pc, and by 54.1pc for Asia.

 

Production in the UK is up for the first time since summer of 2019, stated SMMT. The COVID-19 situation is improving in the country and so are the export markets, though manufacturers globally are facing severe supply-side shortages.

The SMMT forecasts UK’s car production to reach more than 1mn units in 2021which is an addition of 130,000 units over 2020.

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