The demand for UK’s premium cars by Indian buyers rose to 8.3 percent with 1,650 vehicles being sold in the first half of 2017, effectively making India as Britain's seventh biggest Asian market.
28 Jul 2017 | 4984 Views | By Autocar Pro News Desk
UK produced 866,656 vehicles in the first six months of 2017, effectively production fell 2.9 percent. The small drop in output still accounted for the second biggest in the last 12 years, as per data by Society of Motor Manufacturers and Traders (SMMT).
The domestic demand saw 182,830 cars ...
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UK produced 866,656 vehicles in the first six months of 2017, effectively production fell 2.9 percent. The small drop in output still accounted for the second biggest in the last 12 years, as per data by Society of Motor Manufacturers and Traders (SMMT).
The domestic demand saw 182,830 cars being sold in the UK market, witnessing a drop of 9.5 percent. While the total exports stood at 683,826 units, despite a 0.9 percent dip, the overseas demand continued to make up for the bulk of sales contributing 78.9 percent in overall sales. Independent outlook forecasts sector will just miss 2 million production milestone by 2020.
The demand for UK’s premium cars by Indian buyers rose to 8.3 percent with 1,650 vehicles being sold in the first half of 2017, effectively making India as Britain's seventh biggest Asian market.
In the first six months, global demand grew in a number of markets, notably the US - the UK's biggest export region after the EU - where exports rose by more than a third 37.6 percent, moving up from eighth place in 2016. Meanwhile, over the same period, the number of Indian-built models registered by British buyers rose by almost half 48.6 percent to 21,135.
Looking further ahead, the base outlook with an interim Brexit deal secured, has been revised and the analysis forecasts industry will just miss the ambition of 2 million cars by 2020 (1,993,750).
Commenting on the results, Mike Hawes, chief executive, SMMT, said, " Given demand and the highly integrated nature of the global automotive sector, it is vital we maintain open trade links with customers and suppliers across all markets for the benefit of consumers worldwide. The UK and Indian automotive industries share a rich heritage of trade and investment, and strengthening this relationship through mutually-beneficial trade deals in the future is of the utmost importance."