- Annual U.K. car production fell 9.8% to 775,014 units in 2022 as global chip shortages, and structural changes depress output.
- The data released by the Society of Motor Manufacturers and Traders (SMMT) indicated that production in 2022 was 40% less than pre-pandemic in 2019.
- The main reasons for the depressed output were the crippling global shortage of semiconductors, which limited the ability to build cars in line with demand.
- Also, significant structural changes, reflecting a loss of production at two volume manufacturing sites, and the impact of supply chain pauses in China due to Covid lockdowns played a key role.
- On the brighter side, the battery electric (BEV), plug-in hybrid (PHEV), and hybrid (HEV) electric vehicles’ volume rose by 4.5%.
- Electric vehicles represented almost a third (30.2%) of all car production.
- Since 2017, the value of BEV, PHEV, and HEV exports has risen seven-fold, from £1.3 billion to more than £10 billion.
- Electrified vehicles represent 44.7% of the value of all U.K. car exports.
- Photo via Wikimedia Commons
‘Street Fighter,’ ‘Mortal Kombat’ Among 1,300-Plus Classic Gems Coming To Xbox Via Antstream Arcade
Antstream Arcade, a cross-platform streaming platform focused on retro games, has made its way to Microsoft Corporation's (NASDAQ: MSFT) Xbox Series X|S and Xbox One
