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UK exports record number of cars in 2015

Xinhua, January 22, 2016 Adjust font size:

Despite total car export volumes reaching a record number of over 1.22 million units in 2015, Britain saw demand from China, a major market, fell significantly by 37. 5 percent, according to figures released Thursday by Britain's Society of Motor Manufacturers and Traders (SMMT).

Challenges were experienced in some global markets such as China and Russia, with the latter witnessing a drop of 69.4 percent in demand for UK-built cars, according to the SMMT.

Figures from the Chinese government showed that the significant drop of car export has driven down Britain's overall export volumes to China in 2015, as cars, mechanical and electrical machinery and other equipment accounted for about 40 percent of the total export volumes.

However, SMMT said that the economic recovery in Europe, Britain's biggest trading partner, boosted demand for UK-built cars considerably by 11.3 percent in 2015. The region now accounts for 57.5 percent of all UK car exports. In the US, demand rose by more than 26.5 percent, making it the UK's biggest trading destination outside the EU, ahead of China.

With the growing demand in EU, US and other emerging markets,UK car manufacturing reached 10-year high last year, growing 3.9 percent year-on-year to nearly 1.6 million vehicles, the SMMT said. Of all these cars, 77.3 percent was for export, up 2.7 percent on 2014 levels.

"Despite export challenges in some key markets such as Russia and China, foreign demand for British-built cars has been strong, reaching record export levels in the past year," said Mike Hawes, SMMT chief executive.

He also told Xinhua that there is no need to worry too much about the declining demand for UK-built cars, especially the premium brands, in China, as "things will get better."

As for Europe, he said: "Europe is our biggest trading partner and the UK's membership of the European Union is vital for the automotive sector in order to secure future growth and jobs."

Britain's Chancellor of the Exchequer George Osborne remains upbeat about the prospect of the local car industry.

He said: "I am hugely encouraged that manufacturing is at a 10-year high and exports are at a record level. All this means jobs and the security of a pay packet for workers and their families." Endit