Finance
UK vehicle output ends 2024 below one million units, industry data shows
Published by Global Banking & Finance Review®
Posted on January 30, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 30, 2025
2 min readLast updated: January 27, 2026
UK vehicle production dropped 11.8% in 2024 to 905,233 units, with a focus on electric vehicles. The industry aims to exceed one million units by 2028.
(Reuters) - Britain's vehicle production dropped nearly 12% to below one million units in 2024, data showed on Thursday, aligned with the industry's ongoing commitment to the shift towards electric vehicles.
Factories churned out a total of 905,233 units in the year, including cars and commercial vehicles, the Society of Motor Manufacturers and Traders said, representing an 11.8% year-on-year decline.
The UK auto industry has spent a majority of last year retooling its factories to produce more EVs under a strict mandate from the government, even as it struggled with weakness in global markets and other macroeconomic challenges.
The report added that UK car and light van production has the potential to surpass one million in 2028, if demand improves and zero emission model launches stay on track.
"Growing pains are inevitable, so the drop in volumes last year is not surprising," said SMMT Chief Mike Hawes.
Production volume of EVs, including battery electric, plug-in hybrid and hybrid vehicles, fell 20.4% to 275,896 units in the year.
However, SMMT said the expected decline will be temporary.
Britain's car production saw a consecutive ten-month decline since March 2024, with output down 27.1% to 45,022 units in December.
(Reporting by Yamini Kalia in Bengaluru; Editing by Krishna Chandra Eluri)
Britain's vehicle production dropped to a total of 905,233 units in 2024, which is an 11.8% year-on-year decline.
Production volume of electric vehicles fell 20.4% to 275,896 units in the year, but the SMMT stated that this decline is expected to be temporary.
Britain's car production has seen a consecutive ten-month decline since March 2024, with output down 27.1% to 45,022 units in December.
The SMMT report indicates that UK car and light van production has the potential to surpass one million units by 2028, provided demand improves and zero emission model launches stay on track.
The UK auto industry is struggling with weakness in global markets while retooling factories to produce more electric vehicles under a strict government mandate.
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