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October UK Car and Commercial Vehicle Production Drops
Car production in the UK fell in October, down -23.8%, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). Only 59,010 vehicles shipped, 18,474 fewer than in the same month last year. [read AutoInformed.com about Britain’s largest auto employer here: Jaguar Land Rover Cyber-Attack Effects Ongoing – AutoCrat]
“The news comes two days after the Budget in which the Chancellor announced a number of welcome competitiveness-boosting measures, including a further £1.5 billion in automotive transformation funding, and the deferral of regulation to end critical employee car ownership schemes into the next parliament – a move the industry had warned could lead to annual losses of £1 billion and put up to 5000 jobs at stake. It also comes after government published a consultation on its proposed British Industrial Competitiveness Scheme (BICS) which should bring down sky-high energy costs for manufacturers,” SMMT said. Continue reading →