UK car output in July dropped to its lowest level since 1956 as the global shortage of semiconductor chips and the self-isolation of workers due to COVID-19 dampened the sector.
- Volumes declined by an annual pace of 37.6% to 53,438 vehicles in the previous month, which was attributable to the timing of summer factory closures.
- In 2020, car exports declined by 29.1%, with 749,038 shipped globally, which accounts for 81% of total production. More than 50% of these exports were to the European Union, 53.5%.
- Society of Motor Manufacturers and Traders (SMMT) Chief Executive Officer Mike Hawes stated that the global shortage of semiconductors shows little sign of improvement, a situation that will continue to dampen car output levels.
As cases increased the previous month, thousands of people were being pinged by the National Health Service’s contact tracing, but it has since been tweaked to reduce the numbers contacted.
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Source: SMMT.
