<p>Data released from the UK’s Society of Motor Manufacturers and Traders (SMMT):</p><p>December car production fell 17.9% y/y</p><ul><li>after two straight months of growth in output</li></ul><p> Annual car production fell to the lowest level since 1956. 775,014 cars were made in Britain in 2022</p><ul><li>9.8% less than 2021</li><li>40.5% below the 2019 pre-pandemic levels</li><li><p> global semiconductor shortage and COVID curbs in China cited</p></li></ul><p>EV production is encouraging though:</p><ul><li>”These (total) figures reflect just how tough 2022 was for UK car manufacturing, though we still made more electric vehicles than ever before,” SMMT Chief Executive Mike Hawes said.</li></ul><p>-</p><p>Info comes via Reuters reporting. </p>
This article was written by Eamonn Sheridan at www.forexlive.com.
