Car manufacturing rose 23.5% in February, up 19.6% over the year-to-date. CV output fell slightly by 2.7% in February, down 2.0% over the first two months of the year, however UK engine production increased by 3.6% in February and 4.3% over the year-to-date.
“Car manufacturing rose 23.5% in February maintaining the trend of strong export-led growth and confirming the importance of manufacturing to a rebalanced and prosperous economy,” said Paul Everitt, SMMT Chief Executive. “The UK automotive sector continues to attract investment and generate new jobs. Despite recent success there can be no complacency and it is essential the Chancellor uses next week’s Budget to deliver on its growth strategy and boost the UK’s competitiveness by encouraging private sector investment in R&D, capital equipment and skills.”