UK Car Production Just Posted The Worst July Since 1956
The latest auto manufacturing figures released today marked the worst July for UK car production since 1956 and “lay bare the extremely tough conditions UK car manufacturers continue to face” according to Mike Hawes, SMMT Chief Executive.
The total for July 2021 of 53,438 is not only the worst for decades, but as Statista’s Martin Armstrong notes, even represents a decrease of 38 percent on the same period in 2020.
You will find more infographics at Statista
According to SMMT, “While the impact of the ‘pingdemic’ will lessen as self-isolation rules change, the worldwide shortage of semiconductors shows little sign of abating. The UK automotive industry is doing what it can to keep production lines going, testament to the adaptability of its workforce and manufacturing processes, but Government can help by continuing the supportive Covid measures currently in place and boosting our competitiveness with a reduction in energy levies and business rates for a sector that is strategically important in delivering net zero.” 26.0% of all cars made in July were alternatively fuelled, their highest share on record.
So more government handouts will fix it eh? More government subsidization will be the solution? We won;t hold our breath.
Sat, 08/28/2021 – 07:35
Source: Zero Hedge News
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