LONDON (Reuters) – British car output fell by an annual 41.4% final month to its lowest October degree since 1956 as the worldwide lack of semiconductor chips and a plant closure hit the sector, based on a commerce trade physique.
A complete of 64,729 automobiles rolled off British manufacturing traces, knowledge from the Society of Motor Manufacturers and Traders (SMMT) confirmed on Friday.
The fall mirrored the worldwide provide chain issues and Honda’s everlasting closure of its manufacturing facility in late July.
Car output within the first 10 months of the yr stood at 721,505 autos, down 2.9% on 2020 when websites have been closed for months because the coronavirus pandemic hit Britain.
Full-year car and van output can be beneath 1 million for a second consecutive yr however is predicted to return to above that degree in 2022, the SMMT mentioned, citing an unbiased forecast by AutoAnalysis.
“Britain’s automotive sector is resilient but with COVID resurgent across some of our largest markets and global supply chains stretched and even breaking, the immediate challenges in keeping the industry operational are immense,” mentioned SMMT Chief Executive Mike Hawes.
Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or harm because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote indicators contained inside this web site. Please be absolutely knowledgeable concerning the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding varieties attainable.