(Reuters) - Britain's car manufacturing sector reported a lower output in January 2015 compared with last year, as major car manufacturers are now investing in production of new models and technologies, SMMT, an industry body, said on Wednesday.
Car output fell 1.2 percent to 127,385 vehicles in the first month of the year compared with 128,915 units a year ago, according to Society of Motor Manufacturers and Traders (SMMT).
"The slight dip in output in January is as a result of this investment as major UK car manufacturers begin production of new models. As production ramps up throughout the year, we expect to see the sector's output increase." Mike Hawes, chief executive of SMMT, said on Wednesday.
Car exports, for January 2015 fell 6.2 percent to 97,022 units, compared with 103,534 units a year ago, SMMT said.
Britain exported under 1.2 million units to more than 100 countries in 2014, the highest share of UK exports in history, according to SMMT.
Also, the number of UK-built cars exported to Asia has trebled in five years, with China being the largest single market for British-built cars after the UK, as per the data released by SMMT.
However, the automotive body remains positive on the outlook for 2015 as manufacturers are now looking at 7 billion stg worth of investment in new products.
