28.02.201805:38:00UTC+00UK Car Production Remains Stable In January: SMMT

UK car manufacturing remained stable as exports growth offset the decline in domestic demand in January, the Society of Motor Manufacturers and Traders reported Wednesday.

Car production dropped marginally by 0.05 percent, with just 72 fewer units produced year-on-year.

Production for domestic market decreased 6 percent, which was the sixth consecutive decrease. Meanwhile, output for exports grew 1.5 percent in January.

While it is good to see global appetite for British-built cars reach record levels in January, this only reinforces the industry's increasing reliance on overseas demand, Mike Hawes, SMMT chief executive, said.

"Future growth will therefore depend on maintaining our current open trade links not just with Europe but with key international markets," Hawes added.