UK Car Production Declines Sharply: SMMTfxcue.com

(fxcue news) - UK car production logged a double-digit decline in January reflecting weakness in key markets combined with planned model changeovers, the Society of Motor Manufacturers and Traders, or SMMT, said Thursday. In January, vehicle production slid 17.7 percent from a year ago. Factories rolled out 71,104 cars and 6,908 commercial vehicles. In the same period last year, there was a bumper performance, when car and commercial vehicle output climbed 21.0 percent and 27.5 percent. Production for home market declined 30.5 percent and that for exports decreased 13.4 percent from the previous year. Data showed that production of battery electric, plug-in hybrid, and hybrid vehicles grew 1.5 percent to 30,028 units. This accounted for 42.2 percent of all cars made in January, which was the highest monthly performance since December 2022. While shipments to the EU and China plunged 11.2 percent and 46.3 percent, those to the US, Turkey and Japan grew by 12.4 percent, 36.9 percent and 8.1 percent, respectively. The lobby said manufacturers responded to softening demand from the US and other key markets amid plant restructuring and slower than anticipated rollout of new models. SMMT Chief Executive Mike Hawes said, "UK vehicle producers face a perfect storm of global trade uncertainty, challenging manufacturing conditions and a market transition which is proving tougher than expected."

UK Car Production Declines Sharply: SMMT

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UK Car Production Declines Sharply: SMMT

European Shares Likely To Drift Lower As Transatlantic Tensions Rise

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Trader

Gold rebounds and short sells in the range of 2875-2880, with a stop loss of 2888 and a target of 2860;

Gold rebounds, short selling at 2876-80, stop loss at 2888, target at 2830-35 line, break through and continue holding;

Short selling of US crude oil at 71, with a stop loss of 71.5. The targets below are 69.8, 69, and 68.5, with a backhand bullish exit.

EUR/USD 1.04400 short, stop loss 1.04600, targets 1.03900, 1.03600, and 1.03300

Short sell silver at 31.45, stop loss at 31.7, target at 31 and 30.8 below, and if it falls below, compete for support at 30.6.

Short sell gold at 2885, stop loss at 2891, target at 2873 and 2862 below, break below at around 2855 and 2850, if below, buy long at 2842 and 2835.

Gold 2863-65 short, stop loss 2874, target 2856-42.

Sell near spot gold 2888, protect 2898, target 2868; Break through holding;

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UK Car Production Declines Sharply: SMMT

Asian Markets Trade Mostly Lower

Eurozone Lending To Private Sector Strengthens

U.S. Durable Goods Orders Rebound In January As Aircraft Demand Skyrockets

U.S. Durable Goods Orders Rebound More Than Expected In January

U.S. Weekly Jobless Claims Climb Much More Than Expected

U.S. Q4 GDP Growth Unrevised At 2.3%

UK Car Production Declines Sharply: SMMT

European Shares Likely To Drift Lower As Transatlantic Tensions Rise

Please sign in

Trader

Gold rebounds and short sells in the range of 2875-2880, with a stop loss of 2888 and a target of 2860;

Gold rebounds, short selling at 2876-80, stop loss at 2888, target at 2830-35 line, break through and continue holding;

Short selling of US crude oil at 71, with a stop loss of 71.5. The targets below are 69.8, 69, and 68.5, with a backhand bullish exit.

EUR/USD 1.04400 short, stop loss 1.04600, targets 1.03900, 1.03600, and 1.03300

Short sell silver at 31.45, stop loss at 31.7, target at 31 and 30.8 below, and if it falls below, compete for support at 30.6.

Short sell gold at 2885, stop loss at 2891, target at 2873 and 2862 below, break below at around 2855 and 2850, if below, buy long at 2842 and 2835.

Gold 2863-65 short, stop loss 2874, target 2856-42.

Sell near spot gold 2888, protect 2898, target 2868; Break through holding;

Tags

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