SMMT reports fall in output as manufacturers focus on EVs
The Society of Motor Manufacturers and Traders has reported a 7.6% fall in UK car production in the first half of 2024 as manufacturers focus on EVs.
It has reported that 416,074 units were produced in the first six months of the year, which is 34,094 fewer than in the same period in 2023.
Meanwhile, production output slumped by 26.6% in June alone as manufacturers switch focus to electric models.
However, despite a £23.7bn investment in new EV production capabilities, EV manufacturing actually fell 7.6% to 157,224 units in the first half of the year. This represents more than a third (37.8%) of all output, which is unchanged from last year.
Output for UK markets rose 17.7% to 106,157 units, but exports were down 13.9%.
Manufacturers focus on EVs
Mike Hawes, SMMT chief executive, said: “The UK auto industry is moving at pace to build the next generation of electric vehicles – a transition that can be a growth engine for the entire British economy. The new government’s commitments to gigafactories, a decarbonised energy supply and a faster planning system will help boost our competitiveness and sustain employment in a sector that delivers well paid, skilled jobs nationwide.
“Amid fierce global competition, however, industry and government must work quickly to deliver those commitments, creating an industrial strategy that enables the growth the economy craves.”
