• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Domestic Affairs

Car production dives deep in search of the bottom and identity

29th April 2022 Charles Sizemore DMCA.com Protection Status

Car production dives deep in search of the bottom and identity Pin It
Jaguar will be fully electric

The UK produced 76,900 cars in March. That is a third less than in the same month last year. This is according to data from the Society of Motor Manufacturers and Traders (SMMT). “Two years after the start of the pandemic, car production is still having a hard time.”

Since the corona pandemic, the British automotive industry has been hit hard. Last year, car production in the UK fell to its lowest level since 1956. Especially due to the scarcity of raw materials and microchips, the industry has a hard time getting back on its feet.

During the first three months of 2022, a total of 207,347 cars were produced in the United Kingdom, according to the SMMT. That’s almost 100,000 fewer than in the same period in 2021. A total of 852,575 cars were produced in 2021, a steep decline compared to the top year 2016 when more than 1.7 million cars were made.

One of the factors for that decline in numbers, the BBC reports, is the closure of a dog factory in Swindon in the summer of last year. It was a factory that rolled some 160,000 cars off the assembly line every year.

In addition, the corona pandemic caused problems in the highly streamlined production systems of the automotive industry. The COVID crisis also caused raw material shortages and caused the supply of microchips to drop sharply. Supply chains have not yet recovered.

The latest crisis, the war in Ukraine, has caused the already rising energy prices to go further into the air. The SMMT therefore hopes that the British government can reduce energy costs, in order to help the automotive industry on top.

“Two years after the start of the pandemic, car production is still struggling,” said Mike Hawes CEO of SMMT, in a press release. “The recovery has not yet begun, and against the backdrop of an increasingly difficult economic climate, including escalating energy costs, urgent action must be taken to protect the competitiveness of British Industry.”

“We want the UK to be at the forefront of the transition to electric vehicles, not only as a market but also as a manufacturer, so urgent action needs to be taken if we are to secure jobs and livelihoods.” The share of electric cars produced in the UK would now be a quarter of the entire production.

The UK remains an export country in terms of cars despite everything. More than seven out of ten (72.5 percent) of the cars built in the country in March were sold abroad. The EU was the largest buyer (67.0 percent), followed by the USA (8.2 percent) and China (6.6 percent).

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

More than 200 avian…

In Domestic Affairs

More than 200 avian flu outbreaks reported since the end of November

View Post

Next Post

Imported food checks postponed for…

In Domestic Affairs

Imported food checks postponed for the fourth time

View Post

In Money Matters

Major grocery chain supports a ban on plastic packaging of fruits and vegs

View Post

In Domestic Affairs

H1N2 swine flu identified in North Yorkshire, no reasons for quarantine measures yet in sight

View Post

In Money Matters

The global dairy market grows exponentially: the World Dairy Map

View Post

In Money Matters

MPs warn against swift adoption of digital pounds in retail

View Post

Newsletter

Latest News

View

James Cleverly will sign a new treaty in Rwanda today: its implementation is questionable

5th December 2023

View

Physical and ‘digital’ gold spiked on weaker dollar expectations

4th December 2023

View

Wording games at COP28: “scaling down” vs “phasing out”

4th December 2023

View

MPs warn against swift adoption of digital pounds in retail

3rd December 2023

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com

Sign Up for Our Newsletter

Our friendly crew

  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019-2023 Talk Finance - All Rights Reserved. [email protected] DMCA.com Protection Status