RT.com
27 Jan 2022, 22:12 GMT+10
It was a dismal year for the British auto industry, with the worst production numbers since 1956
Fewer than 860,000 vehicles rolled off British production lines last year, the lowest level in 65 years, as factories slowed down or stopped work due to a severe shortage of semiconductors. Other factors affecting production included widespread staff absences as workers were forced to go into isolation, the Society of Motor Manufacturers and Traders (SMTT) said.
According to the SMTT, total car production was 6.7% lower than in 2020 and 34% below pre-pandemic levels. Covid-19 disruptions triggered a global shortage of semiconductor chips, leading to an even worse 2021, it said. Semiconductors are a vital part of modern cars, with each vehicle typically having between 1,500 and 3,000 chips to operate.
The trade group's chief executive Mike Hawes described 2021 as "a dismal year," adding that "there's no hiding it." However, he suggested that despite the miserable year there is optimism, largely because of almost Pound 5 billion in planned new investments by the automotive industry, many of them in electric vehicles or technology.
Hawes said the industry had managed to cope with the extra costs of Brexit, but warned that it still faces a growing challenge from a spike in energy costs of up to 70%. According to him, the industry urgently needed "measures to mitigate the escalating energy costs which are threatening viability," because higher costs "will flow through to prices," adding to pressure on consumers.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Liverpool Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Liverpool Star.
More InformationBRUSSELS, Belgium: European Union foreign policy chief Josep Borrell has said that the bloc would ensure Ukraine that it has ...
Former U.S. President George W. Bush has made an embarrassing mistake in criticizing Russian President Vladimir Putin over his decision ...
WASHINGTON D.C.: The U.S. State Department has announced the launch of a new program to capture and analyze evidence of ...
JAKARTA, Indonesia: A new poll released this week indicated that Indonesian President Joko Widodo's approval rating has hit a six-year ...
EAST JAVA, Indonesia: A tourist bus crashed into a billboard on a highway on Indonesia's main island of Java this ...
BELGRADE, Serbia: Belgrade was paralyzed this week by a series of bomb threats, including against schools, bridges, restaurants and a ...
LONDON, England: Israeli startup REE Automotive has announced that it will build an assembly plant for electric vehicles (EVs) in ...
DUBLIN, Ireland - Figures show that nearly 3,000 thoroughbred horses have been slaughtered for meat in Ireland since 2020.It is ...
DUBAI, UAE: After stating that it was looking to expand into new markets and related sectors, such as financial technology, ...
Mumbai (Maharashtra) [India], May 20 (ANI): India's foreign exchange (forex) reserves declined by $2.676 billion to $593.279 billion for the ...
New Delhi [India] May 20 (ANI/ATK): Unified Brainz Celebrated the Success of Women leading by example with Glitz, Glamour and ...
Hong Kong, May 20 (ANI): China's State Council, which is equivalent to the country's cabinet on Friday appointed John Lee ...