Major UK car brands no longer in favour in foreign markets
Demand from abroad for cars made in the UK has plummeted as output fell over recent weeks.
Despite lockdowns coming to an end, just over 1,000 cars are being made per day in the UK.
Recently average annual volumes were as high as 4,500 per day.
Data shows a 27% year-on-year fall in production in August. This means the country is set of its worst yearly performance in tens of years.
Trading partners that have previously been fond of classic British companies such as Mini, Jaguar, Rolls-Royce et all, are showing dramatically less enthusiasm.
Exports to China are down 58% while exports to America are down by 65%.
Sales to Australian buyers have plummeted by 75%.
“While not the only factor at play, the impact of the semiconductor shortage on manufacturing cannot be overstated. Carmakers and their suppliers are battling to keep production lines rolling, with constraints expected to continue well into 2022 and possibly beyond,” Mike Hawes, chief executive of the SMMT, said.
“Job support schemes such as furlough have proven such a lifeline to automotive businesses, yet its cessation today comes at the worst time, with the industry still facing Covid-related stoppages which are damaging the sector and threatening the supply chain in particular. Other countries have extended their support; we need the UK to do likewise.”