UK car output rises for fifth straight month in June – SMMT data

<p>UK car production rose y/y for the
fifth consecutive month in June 2023.</p><p>The Society of Motor Manufacturers and Traders (SMMT) cited the pandemic-induced chip shortages easing. </p><ul><li>total of 84,767 output last month, an increase of nearly 16.2% y/y</li><li>car production is expected to rise nearly 11% to
860,000 units by the end of the year, the SMMT added</li><li>output could reach pre-pandemic levels of 1 million by 2028</li><li>
For the first six months of the year, production of hybrid
electric, plug-in hybrid and battery electric vehicles rose
nearly 72% to record 170,321 units</li><li>Exports to the major markets rose with the exception to
China, where it dropped more than 6% in six months to June</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.