THE automotive sector remains Britain's largest exporter of manufactured products, increasing its share of these exports to 13.9 per cent in the first half of 2024.
That is according to latest figures from industry body the Society of Motor Manufacturers and Traders which revealed the achievement is despite a decline in UK car production in September, 2024.
The decrease was largely expected as factories wind down production of current models and retool lines for all-new zero emission vehicles.
Some 21,309 electrified models were made in September, representing 30.4 per cent of all cars produced despite an overall volume decline of 37.0 per cent against the same month last year.
Output for domestic and export markets saw almost identical rates of decline, down -20.8 per cent to 18,614 units and 20.6 per cent to 51,425 units respectively.
Continuing the trend as Britain's leading market for finished vehicles, the EU took more than half (52.2 per cent) of exports at 26,825 units, although volumes fell 28.6 per cent.
Exports to China, one of the top three export destinations, fell too, down 23.1 per cent to 3,673 units and taking a 7.1 per cent export share, while those to the US rose 24.6 per cent to 8,210 units and representing 16.0 per cent of September's exports.
In the year to date, a 6.5 per cent rise in output for the UK was not enough to offset a -14.4 per cent fall in overseas shipments, given the export-led nature of the sector, meaning overall UK car production is down 10.2 per cent to 592,862 units, since January.
Growth is expected to return once new models come on stream, with car and light van production forecast to head back above one million units in 2027 and with the potential to surpass 1.3 million by 2030.
The news comes as fresh SMMT trade data analysis details how, despite a drop in car production this year, the sector remains Britain's largest exporter of manufactured products, increasing its share of these exports to 13.9 per cent in the first half of 2024.
The value of these exports has remained consistently high, driven by global demand for premium UK-made electrified vehicles, which are worth roughly one and a half times more than ICE models.
Moreover, in the 12 months to June, the sector was worth £114 billion in total trade, encompassing £46.8 billion in exports and £67.2 billion in imports.
Mike Hawes, SMMT Chief Executivesaid:"As UK Automotive undergoes its most radical transformation in more than a century, short term production declines were always anticipated, and they represent a temporary adjustment in exchange for long term growth. Following record investment announcements last year, the sector is ready to build on its position as the UK's largest exporter of manufactured products.
"To do so, we need the necessary industrial and market conditions, and the forthcoming Budget and Industrial Strategy must put in place ambitious measures to bolster business confidence, attract investment and secure competitiveness."