British car production fall 6.7% in October

British car manufacturing fell 6.7 percent in October to 150,060 units, as Global economic uncertainty affecting demand, according to the Society of Motor Manufacturers and Traders (SMMT).
The year-to-date volumes were 1,282,077, down 0.3 percent compared to 2013, showed the SMMT's figures released on Thursday.
"The UK's car manufacturing industry is still in a strong position in spite of the growing uncertainty surrounding the global economy," said Mike Hawes, SMMT Chief Executive.
"Billions of pounds have been invested into UK facilities in the past two years, with several new models starting production this year and more in the pipeline. There is still demand for UK-built products given their reputation for quality, design and engineering excellence," Hawes added.
Around 80 percent of Britain-built cars are exported, with the diverse product mix giving a 50/50 split between EU and non-EU exports.
The automotive industry is a vital part of the British economy accounting for more than 64 billion pounds (about 100 billion U.S. dollars) turnover and 12 billion pounds value added.
With more than 160,000 people employed directly in manufacturing and in excess of 770,000 across the wider automotive industry, it accounts for 10 percent of total British export of goods and invests 1.9 billion pounds each year in automotive R&D.
More than 30 manufacturers build in excess of 70 models of vehicle in the Britain supported by around 2,500 component providers. (1 pound = 1.57 U.S. dollars)