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Economy

“UK car production plummets to lowest level since 1956 amid chip shortage, worker absences”

“U.K. car production plummeted to a new low last month, marking the worst July performance for the industry since 1956, according to a trade group. The Society of Motor Manufacturers and Traders said Thursday that U.K. manufacturers built just 53,438 vehicles in July, marking a 37.6% drop on July 2020.

A global semiconductor shortage, factory shutdowns and worker absences amid the ongoing coronavirus pandemic all contributed to the decline, SMMT said. While July was a particularly bad month, car production across U.K. factories is up 18.3% year-to-date compared to 2020, when Covid restrictions meant people couldn’t go to work.

Some 552,361 cars have been built in the U.K. since January, but that’s still 28.7% down on 2019 pre-pandemic levels…”

https://www.cnbc.com/2021/08/26/uk-car-production-falls-to-lowest-level-since-1956-amid-chip-shortage.html

The labor shortage is going to become worse not better. Even if the chip shortage goes away there will still be major problems for car companies.

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