UK Car Production Hit 10-Year High in 2015

British car output hit a 10-year high in 2015, the Society of Motor Manufacturers and Traders said on Thursday, but fell short of an industry forecast due partly to falling demand in Russia and China.

Output rose 3.9 percent to 1.59 million cars last year, the highest since 2005, helped by a 9 percent increase in the number of models produced by Jaguar Land Rover, which overtook Nissan to become Britain’s biggest automaker.

JLR, which had its first full-year production of its Discovery Sport sports utility vehicle last year and began building its XE sports sedan, made nearly 490,000 cars, just under a third of the national total.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.