LONDON: The number of cars made in the UK reached a 17-year high last year, according to the industry’s trade body. About 1.7 million cars rolled off production lines in 2016, a rise of 8.5% on the year before. The Society of Motor Manufacturers and Traders (SMMT) added that exports rose 10.3% to 1.35 million vehicles, a record for the second consecutive year.
But SMMT head Mike Hawes repeated fears that investment would suffer without a suitable post-Brexit EU trade deal. Mr Hawes said that car production was on course to reach an all-time high before 2020. But the SMMT’s statement sounded a note of caution after revealing that investment by the industry fell to £1.66bn last year, compared with about £2.5bn in recent years. On Tuesday, Mr Hawes told MPs on the Treasury Committee that many carmakers are putting off investment until there is more clarity over the UK’s trade relations with the EU.
