Britain’s car industry drops 6% due to supply problems. By Stocksak

© Stocksak. FILE PHOTO – Imported cars are parked at Sheerness port in Sheerness, Britain on October 24, 2017. Picture taken October 24, 2017. REUTERS/Peter Nicholls

(Stocksak). – British car production fell 6% in September according to an industry body. This is despite the sector continuing to suffer from high energy costs, supply-chain snags, and component shortages.

According to the Society of Motor Manufacturers and Traders SMMT, 63.125 units were produced in Britain in September. This was nearly half of what was seen in 2019, prior to the pandemic.

The SMMT reported that the production of battery electric vehicles (BEVs) increased 16.6% in the past month.

The global export value of electric vehicles has risen to 7.9 billion pounds ($9.13billion) from 1.3billion pounds in the last five years.

SMMT revealed that energy costs are the greatest concern for British auto manufacturers. The British have accumulated more than 300,000,000 pounds in bills since August.

“In the week when the UK gets a new Prime Minister, the sector is calling upon the government to collaborate to create a favorable business environment for UK auto manufacturing,” SMMT said.

Rishi Sunak, Britain’s new Prime minister, replaces Liz Truss. She took over from Liz Truss for a brief period. The Bank of England is raising interest rate to control double-digit inflation.

“Stability combined with a plan that addresses critical skills shortages and brings down energy costs in the long term can help place the UK at the forefront in next-generation automotive manufacturing,” Mike Hawes Chief Executive of SMMT said in a statement.

($1 = 0.8655 pounds)

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