2023-01-26 00:02:31

UK car production collapses to lowest for 66 years

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By Simon Jack & Beth Timmins

BBC business editor & business reporter

The number of new cars made in the UK fell again sharply last year plummeting to its lowest level since 1956.

The drop marks a 10% fall from the year before which itself was a historic low.

A continuing global shortage in semiconductor chips hit production lines, industry body the Society of Motor Manufacturers and Traders said.

But car makers are concerned the UK has not yet got a strategy to make the country competitive as a destination for manufacturing investment.

The government said it was "determined" to ensure the country remains a top global location for car manufacturing.

Manufacturers hope that they will hit one million vehicles again in 2025 but getting to pre-pandemic levels would require major investment and new makers to come to the UK.

Firms are worried that the UK is falling behind the US and the EU when it comes to offering state aid to manufacturers.

A very significant bit of US legislation - the Inflation Reduction Act - will offer billions in subsidies to car makers who create electric vehicle supply chains in the US.

Continue read on bbc.com

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