UK Car Output Continues to Decrease in May
(MENAFN) Britain’s vehicle manufacturing saw a dramatic decline for the fifth month in a row, reaching its lowest point for the month of May since 1949, as per statistics released on Friday by the Society of Motor Manufacturers and Traders (SMMT).
Passenger and commercial vehicle production dropped by 32.8 percent compared to the same month last year, totaling just 49,810 units.
"Excluding 2020, when Covid lockdowns saw factories shuttered or running at greatly reduced capacity, it was the lowest performance for the month since 1949," a statement from the SMMT said.
This sharp downturn has been attributed to continuous model updates, industrial restructuring, and the consequences of US-imposed trade tariffs.
Last month, exports to the United States and the European Union—Britain’s two primary automotive markets—fell by 55.4 percent and 22.5 percent year-over-year, respectively.
"Confirmed trade deals with crucial markets, especially the US and a more positive relationship with the EU, as well as government strategies on industry and trade that recognize the critical role the sector plays in driving economic growth, should help recovery," said SMMT CEO Mike Hawes.
"With rapid implementation, particularly on the energy costs constraining our competitiveness, the UK can deliver the jobs, growth and decarbonization that is desperately needed," he added.
In April, US President Donald Trump introduced a 25 percent levy on all American-bound car and auto component imports.
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