UK car production drops to lowest in decades

Must read

Democrats Bracing Themselves For More SCOTUS Decisions They Don’t Like

Even if Donald Trump never runs for president ever again, the mark he left on the Supreme Court...

Hollywood Conservative Jon Voight Calls On Joe Biden To Be Impeached

Conservative actor Jon Voight posted a video to social media earlier this week calling for the impeachment...

Report: GOP Megadonors Abandoning Trump After Jan 6 Hearings

Some may be thinking that the House Select Committee on Jan. 6 hearings may be nothing more than...

Liberal Celebrity Wanda Sykes Attacks Middle America, Providing Electoral College Fans A Built-In Argument

Liberal comedian Wanda Sykes has no problem voicing her contempt for those who dare to think differently than...

It was a dismal year for the British auto industry, with the worst production numbers since 1956

Fewer than 860,000 vehicles rolled off British production lines last year, the lowest level in 65 years, as factories slowed down or stopped work due to a severe shortage of semiconductors. Other factors affecting production included widespread staff absences as workers were forced to go into isolation, the Society of Motor Manufacturers and Traders (SMTT) said.

According to the SMTT, total car production was 6.7% lower than in 2020 and 34% below pre-pandemic levels. Covid-19 disruptions triggered a global shortage of semiconductor chips, leading to an even worse 2021, it said. Semiconductors are a vital part of modern cars, with each vehicle typically having between 1,500 and 3,000 chips to operate.

The trade group’s chief executive Mike Hawes described 2021 as “a dismal year,” adding that “there’s no hiding it.” However, he suggested that despite the miserable year there is optimism, largely because of almost £5 billion in planned new investments by the automotive industry, many of them in electric vehicles or technology. 

Hawes said the industry had managed to cope with the extra costs of Brexit, but warned that it still faces a growing challenge from a spike in energy costs of up to 70%. According to him, the industry urgently needed “measures to mitigate the escalating energy costs which are threatening viability,” because higher costs “will flow through to prices,” adding to pressure on consumers.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Democrats Bracing Themselves For More SCOTUS Decisions They Don’t Like

Even if Donald Trump never runs for president ever again, the mark he left on the Supreme Court...

Hollywood Conservative Jon Voight Calls On Joe Biden To Be Impeached

Conservative actor Jon Voight posted a video to social media earlier this week calling for the impeachment...

Report: GOP Megadonors Abandoning Trump After Jan 6 Hearings

Some may be thinking that the House Select Committee on Jan. 6 hearings may be nothing more than...

Liberal Celebrity Wanda Sykes Attacks Middle America, Providing Electoral College Fans A Built-In Argument

Liberal comedian Wanda Sykes has no problem voicing her contempt for those who dare to think differently than...

Democrat Rep. Judy Chu Arrested At The Capitol During Pro-Abortion Protest – Second Time She’s Been Arrested

Representative Judy Chu (D-CA) was arrested Thursday during a pro-abortion protest at the Capitol. Capitol police said they...