Economic Buzz: UK Car Production Rises In June

28 Jul 2022 , 03:00 PM

UK car production increased for the second consecutive month in June with the easing of supply chain shortages, according to the Society of Motor Manufacturers and Traders. Despite challenging backdrop, car production grew 5.6 percent in June with 72,946 units built. However, in the first half of the year, car output declined 19.2 percent from the same period last year due to shortages of key components, exacerbated by additional supply issues caused by the war in Ukraine and significant structural and model changes within the sector. The year-to-date decline was driven largely by a fall in export volumes, with -23.9 percent fewer cars produced for overseas markets during the first half of 2022. Meanwhile, production for the domestic market rose 4.3 percent.Powered by Commodity Insights