UK car production dropped 0.7% in October, but 10-month performance highest in a decade

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Despite a slight drop by 0.7 percent in car production last month in the UK, the output in the first 10 months of the year shows the best performance since 2005. According to a recent report by the Automotive Council, the UK sits very well when it comes to productivity in the automotive industry, being the most efficient country in Europe. Also, Britain is ranked among the top countries which facilitate the link between graduates from technology or engineering universities and industry. These are the good news for the country’s auto market development. But not so positive are the latest reports indicating a slight production decline by 0.7 percent in October from a year earlier to 148,976 cars, with the number of models built for the domestic market felling 8.3 percent, according to data from the Society of Motor Manufacturers and Traders (SMMT). UK car sales dropped by 1.1 percent last month, the first year-on-year decline after 43 months of growth. But again with the good news. British car manufacturing has hit its highest level for the year-to-date in a decade, according to the same figures from the SMMT. A total of 1,318,452 new cars rolled off UK production lines in the first 10 months of the year, the best performance since 2005 and up 2.8 percent year-to-date, while exports – which account for around four in five cars built in Britain – drove volumes in October, with foreign demand up 1.5 percent. “The industry has delivered a robust performance so far this year, particularly in terms of exports,” the SMMT’s Chief Executive Mike Hawes said. “Given the slowdown we’ve seen in several key global markets in recent months, UK automotive manufacturing still remains in a strong position.” Via Reuters