UK car production continues to strengthen

Mini plant in Cowley, Oxford The UK car industry has enjoyed steadily rising output

Related Stories

UK car production continued to strengthen last month, industry figures have shown, with output now having passed the one million mark this year.

The Society of Motor Manufacturers and Traders said production rose to 140,888 in September, up 9.9% from a year ago.

The figures means output for 2013 so far has now reached 1,125,433.

In addition, car production for the 12 months to September hit 1.5 million, the highest rolling 12-month total since October 2008.

The number of cars produced for export rose 9.3% from a year earlier, helped by high demand in China, Russia and the US for luxury British brands.

Mike Hawes, chief executive at SMMT, said the sector was "one of the UK's biggest success stories in recent years".

"This long-term financial commitment and robust demand for UK-built products show the global appetite for high-quality, desirable products borne of the UK's world-class design, R&D and engineering," he added.

However, while car output rose, production of commercial vehicles (CV) - lorries, buses, trucks and vans - fell 27.6% from a year earlier to 6,963.

"CV production remained subdued in September, with continuing uncertainty in the EU and restructuring of UK operations," said Mr Hawes.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

BBC Business Live

  1.  
    13:00: Howard Mustoe Business reporter

    That's all from us, folks. More tomorrow including revised GDP data and much, much more. Join us from 06:00.

     
  2.  
    BETFAIR REPORT 12:53:

    Investment advisor PIRC is telling its members to reject Betfair's annual report at its annual meeting on Thursday. PIRC points to Betfair's 2014 report in which it says it "has been recently advised that" it "did not have sufficient distributable reserves" as per the guidelines set down by the Institute of Chartered Accounts in England and Wales, to pay some of its dividends.

     
  3.  
    HAGGIS HORROR! 12:43:
    Haggis cocktail size

    The story about the sausage-shaped haggis has - not surprisingly - prompted talk at the BBC's Scottish HQ. Colleague Gillian Marles says: "We think the change in shape is not that significant. It is sold in the long catering packs at the moment. Other haggis and pudding makers have oblong-shaped, smaller packs. The flavours are quite interesting - but it did win an award in May for introducing special flavours…" We in London are adjusting to this, although it's hard, it really is hard.

     
  4.  
    HAGGIS HORROR! 12:29:
    Cropped haggis

    The Telegraph reports Macsween, famous haggis makers, are attempting to nudge the haggis - made of offal, grains and seasoning with an unmistakeably haggis-shape - towards a wider audience. It's making it charcuterie shaped and adding a wild boar and a Moroccan spice version. "Our challenge was to make haggis more relevant," says marketing director Jo Macsween.

     
  5.  
    CO-OP SELLS SUNWIN 12:19:

    The sale of businesses at the Co-Operative continues. This time it's security firm Sunwin Services Group to Cardtronics for up to £41.5m. Cardtronics will also start managing Co-op's food shops' cash machines, says Co-Op.

     
  6.  
    TREASURY PAY WOES 12:05:

    Friend Mark is tweeting about the Treasury Committee hearing at which Sir Nicholas MacPherson is talking about how difficult it is to retain staff at the Treasury when the taxman - HMRC - and the Bank of England both pay more: "[It] feels like a '2nd division Belgian football team feeding players to Man Utd and Chelsea'", he says, emotively.

     
  7.  
    TREASURY PAY WOES Via Twitter Mark Broad Economics reporter, BBC News

    tweets: "Top civil servant at @hmtreasury - Sir Nick Macpherson - says dept can't compete with wages at @bankofengland."

     
  8.  
    DOLLAR PURCHASE 11:44:

    Dollar General has said it raised its bid for Family Dollar Stores to $80 per share, or $9.1 billion, from $78.50 per share. But to keep things needlessly complicated, Family Dollar prefers a bid from Dollar tree.

     
  9.  
    BORIS ISLAND 11:30:

    Saga travel reacts to the shelving of Boris's plan: "With Howard Davies's Airport Commission now sinking Boris Island airport in the Thames Estuary, the Government needs to accelerate the decision to pick Heathrow or Gatwick. Governments of many hues have avoided making a decision, but we need politicians with a backbone, not the will of a jellied eel, if Britain is to get the airport capacity it needs."

     
  10.  
    ASTON MARTIN BOSS 11:15:
    Aston Martin

    Aston Martin has hired Nissan executive Andy Palmer as its new chief executive after nine months with no-one in the top job. Mr Palmer led Infiniti, a luxury Nissan brand.

     
  11.  
    HELP TO BUY 10:59:

    The number of people who have benefited from the government's Help to Buy schemes has topped 48,000, according to official figures. But there was a slight drop in June in people taking advantage of the version which assists buyers of older properties. The help comes in two forms: an interest free loan for buyers of new properties and a mortgage guarantee for people purchasing "second hand" homes.

     
  12.  
    BORIS ISLAND 10:44:

    BA comments on the end of Boris Island: "We've always said that there was no economic case for a Thames estuary airport so it's no surprise that the Davies Commission, after a thorough investigation, has ruled it out," it says, rather sniffily.

     
  13.  
    MORE RUSSIA SANCTIONS 10:28:

    European Union governments will consider putting new sanctions on Russia on Friday. Italy's foreign minister told the European Parliament the Commission was working on a tougher package of sanctions against Russia including defence, "dual use" goods and finance.

     
  14.  
    EUROZONE RECOVERY Via Blog Robert Peston Economics editor

    The German and Italian economies are shrinking, and France is flat-lining, Robert says in his blog today. Unemployment remains hideously, intractably high - 11.5% for the eurozone as a whole. So, what does the future hold?

     
  15.  
    THE POOND 10:01:
    Man with kilt, sporren and Scottish pound

    You'll have noted the small fall in the pound. This is a plausible enough reason - the growing threat of an independent Scotland. "A poll for the Sun and the Times newspapers showed support for the pro-independence "Yes" campaign had risen to 47%, a 4 point gain," notes Reuters. The "No" lead has narrowed from 22 points to just six now. Now, is this picture as inanely stereotypical as the earlier Swiss cheese one?

     
  16.  
    BORIS ISLAND 09:45:

    OK, so what next for UK airport capacity? Having kyboshed Boris's island idea as too expensive and impractical, the commission has another year to pick from the remaining three options - two plans to expand Heathrow Airport and one to expand Gatwick Airport.

     
  17.  
    MARKETS 09:20: BBC Radio 4

    An interesting nugget from BlackRock's investment boss Ewen Cameron Watt. He told Today the markets' current complacency will melt in the face of higher interest rates that everyone expects are on their way. He gives some striking figures: "A 1% rise in [UK] mortgage rates will add £800-900 to the average mortgage bill." And put a serious crimp in spending power.

     
  18.  
    MARKETS UPDATE 09:05:

    Europe's share markets have all opened modestly higher. The best gainer in the UK is Weir Group, which is up 3%. And the pound has fallen 0.25% against both the dollar and the euro. It is at $1.6568 and 1.2621 euros.

    • The FTSE 100 is up 20 at 6845
    • the Dax in Frankfurt is 68 higher at 9547
    • Paris's Cac 40 is 13 points higher at 4393
     
  19.  
    SWISS ECONOMY 08:50:
    Big cheese

    No growth in Switzerland, reports the State Secretariat for Economics. A surprise: GDP was forecast to growth by about half a percent in the second quarter. Weaker exports and falling construction spending were the culprits. Yearly GDP growth was 0.6% - way under hopes of 1.7% growth. We will endeavour to find an even more fatuous picture before we pack up for the day. Might be hard.

     
  20.  
    CHINA PROPERTY 08:34: Via Blog Linda Yueh Chief business correspondent

    The various steps that China is taking to stem house price rises seems to be working, but can the government manage an orderly slowdown in the property sector? Linda Yueh finds out here.

     
  21.  
    BORIS ISLAND 08:19: Radio 5 live
    boris island

    Aviation expert David Bentley told Wake up to Money about one of the three remaining airport expansion options - that to expand Heathrow as a "hub", he says. A hub can mean base for airlines, or a major airport to change plane, as in a "hub and spoke system," he says. Whatever is decided, it will need to satisfy air travellers for the next 20 years or so, he adds.

     
  22.  
    AUSTRALIA BANK RATE 08:03:

    Australia's central bank kept its interest rate at a record low of 2.5% for a 12th consecutive policy meeting. The economy is growing sluggishly, initial data suggest.

     
  23.  
    BORIS ISLAND Adam Parsons Business Correspondent

    tweets: Davies says Boris Island project would be "reckless" and unlikely to appeal to government "of any political colour"

     
  24.  
    REDROW RESULTS 07:35:
    Redrow houses

    Redrow says a large number of its Help to Buy clients were first time buyers and over half were in the north of England. It says its order book is looking plump - up 85% on last year. Business Live has been debating Redrow's building style. Ease of upkeep of the wooden bits has excited debate.

     
  25.  
    REDROW RESULTS 07:21:

    Housebuilder Redrow's results are here. The usual tale of rising prices and the government's Help to Buy scheme. Redrow reports a 13% increase in the average selling price to £239,500, record group revenues and record pre-tax profits (almost doubling). Help To Buy provided 35% of private completions.

     
  26.  
    HEADLINES
  27.  
    BORIS ISLAND 07:07:

    Sir Howard Davis, chairman of the commission, said it had come down against Boris's island airport plan because: "The economic disruption would be huge and there are environmental hurdles which it may prove impossible, or very time-consuming to surmount." Even the least-ambitious version of the scheme would cost £70-90bn."

     
  28.  
    BORIS ISLAND 07:04:

    "The Airports Commission has today (2 September 2014) announced its decision not to add the inner Thames estuary airport proposal to its shortlist of options for providing new airport capacity by 2030. Following detailed further study into the feasibility of an inner Thames estuary airport the commission has concluded that the proposal has substantial disadvantages that collectively outweigh its potential benefits." A firm no, as expected.

     
  29.  
    MARKETS 06:56: BBC Radio 4

    BlackRock is the world's largest asset manager with more than $4.5 trillion under management. Its investment boss Ewen Cameron Watt, discussing why markets are so steady in the face of so much global tension tells Today: "Volatility is exceptionally low by historical standards and there's too much money chasing too few assets."

     
  30.  
    HSBC SHARES 06:42: Radio 5 live
    hsbc

    Ewen Cameron Watt, Chief Investment Strategist of the BlackRock Investment Institute, is now on 5 live talking about the news Neil Woodford, the fund manager, flogged his HSBC shares. "Neil bought HSBC because it was one of the few banks where he thought there was some dividend growth," he says. However, fines in the sector are likely to drain that prospect, he says. It's fines "more than anything that's sapping bank's willingness too lend, or ability to lend".

     
  31.  
    MARKETS 06:27: BBC Radio 4

    Today is looking at why stock markets are at a 52-week high when the political situation around the world is so dire - there's the threat of war in Europe and conflict in the key oil producer Iraq. Ewen Cameron Watt, chief investment strategist at Investment Institute of giant asset manager BlackRock says: "At this stage in the summer months the thought that Russia might affect sending gas to Europe is not a worry. [Energy stocks] are about 90% of capacity."

     
  32.  
    BANKING COMPLAINTS 06:12: Radio 5 live

    More from the Financial Ombudsman's Caroline Wayman. Fee-paying bank accounts are the cause of the increase in complaints about banking, she says. "People are getting in touch saying they didn't know they had a fee paying account or want one." People are "more aware but we see a lot of people who are reluctant to raise concerns," when coming forward to the service, she says. There are also more complaints about payday loans, but from a low starting point she says.

     
  33.  
    BANKING COMPLAINTS 06:02: Radio 5 live

    Caroline Wayman, chief executive of the Financial Ombudsman Service is on Wake Up to Money talking about complaints about banks. Complaints about payment protection insurance have fallen by almost a third, but complaints about other things in banking are up: "Still a lot of people get in touch, more than 1,000 people a day," she says. "We've had to expand a lot."

     
  34.  
    06:01: Howard Mustoe Business reporter

    Morning! Get in touch via email bizlivepage@bbc.co.uk or via twitter @BBCBusiness

     
  35.  
    06:00: Rebecca Marston Business reporter, BBC News

    Good morning and welcome to Tuesday's Business Live. Stick with us for the pick of the morning's news.

     

Features

  • Ernest HemingwayAbandoned hero

    Why Paris is forgetting Ernest Hemingway


  • Women doing ice bucket challengeChill factor

    How much has the Ice Bucket Challenge achieved?


  • Cesc FabregasFair price

    Have some football clubs overpaid for their new players?


  • Woman and hairdryerBlow back

    Would banning high-power appliances actually save energy?


From BBC Capital

Programmes

  • Stranded shipThe Travel Show Watch

    Stranded in the icy Northwest Passage where only the polar bears move freely

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.