SMMT

The UK has seen investment in its automotive industry halve since the country voted to leave the European Union, new figures reveal. As the process continues, there are still no answers as to how the country will trade with Europe. Any deal that does not offer free trade routes would see World Trade Organisation (WTO) tariffs introduced, which could mean a 10% charge on every product that enters and exits the country. During 2017, investment in the UK industry fell by 33.7%, according to new figures released by the Society of Motor Manufacturers and Traders (SMMT). This equates to £1.1 billion (€1.25 billion) put into the country’s various vehicle manufacturing plants and development centres, down from £1.7 billion (€1.9 billion) in 2016, and £2.5 billion (€2.85 billion) in 2015.

The UK new car market declined in 2017, with annual registrations falling for the first time in six years, according to new figures published by the Society of Motor Manufacturers and Traders (SMMT). Sales in December fell by 14.4%, marking the ninth consecutive month of decline in the country. Over the 12 months, 2,540,617 units were registered, a fall of 5.7% compared to a record year in 2016. However, despite the decline, which was also down on 2015’s figures, the total is still the third highest in a decade. While sales of petrol vehicles rose over the year, with a 2.7% increase, this was not enough to offset a drastic drop in the sale of diesel vehicles, which ended 2017 down by 17.1%. The SMMT attributes this collapse to the anti-diesel rhetoric passed onto the public by me

UK car manufacturing fell 4.6% in November, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). 161,490 cars left British factories in the month, driven by overseas orders, which rose 1.3%. In November, exports reached their highest proportion of output this year at 85.0% but production for the home market continued to falter, falling for the fourth month in a row. It dropped -28.1%, the largest decline in 2017, as consumer confidence decreased and speculation over negative government policies towards diesel affected the market. Year-to-date, more than 1.5 million cars have rolled off production lines, with nearly eight out of 10 destined for one of 160 global markets. While export volumes remain stable, production for the home market is down -9.0%...