Bulletin

Demand from home drives car sales

A surge in domestic demand for British-made cars compensated for a stagnant export market last month. While the number of vehicles made for export dipped by 0.2% in May, production for the home forecourt jumped by 13.3% according to the Society of Motor Manufacturers and Traders. Overall, 119,338 cars were produced in Britain last month, a 2.3% rise on May 2014. Production is down by 0.8% so far this year, but the industry has recovered strongly from its trough of late 2009 when annual production stood at just 952,623, compared with production in excess of 1.5m vehicles for the year to May. SMMT chief executive Mike Hawes said: 'We have seen a steady performance in UK car manufacturing this year, with volumes bolstered by a strong home market, while recovery in key European markets is helping to restore export production levels.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

The new Apprenticeship Levy could help transport and logistics companies solve their recruitment problems and equip their workforces with…

Cornwall is a land steeped in legend but this salty business success story is no myth.

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Travelstar European Ltd, one of the West Midlands’ leading coach hire companies, has moved to larger premises in Portland Street, Walsall,…

Santander’s local Business Banking team recently held a Breakthrough Masterclass at the English Whisky Company, with local East Anglian…

Where Next?