The growth rate of car production in the UK has reached its maximum since 2010
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There were 905,117 cars produced in the UK in 2023, up 16.8% on the previous year. Thus, the country recorded the highest growth rates of auto production since 2010. At the same time, the production of electric vehicles of various types increased by 48% over the year. Such data is provided in report British Society of Motor Manufacturers and Traders (SMMT).
The authors of the report note that the growth in production is associated with the mitigation of logistics problems, the launch of new models, as well as significant private and public investment in automotive production in the amount of £23.7 billion. Nissan Motor produced the most cars – 325 thousand and Jaguar Land Rover – 238 thousand, their shares in the British market are 36.3% and 17.6%, respectively.
Of the cars produced, only 21.1% entered the UK domestic market, and 78.9% were exported, SMMT said. The volume of car exports increased by 17.6% over the year. The European Union remains the main market for cars manufactured in the UK, with its share of exports of these products reaching 60.3%. The second largest market is the US (10.3%). The top five importers of British cars also include China, Türkiye and Japan.
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