[ad_1]
UK car production fell sharply in October amid industry concerns about “severe pressure” on investment in electric vehicle production.
The Society of Motor Manufacturers and Traders (SMMT) said production of all cars fell by more than 14,000 vehicles compared to a year ago, mainly due to lower exports following weaker demand.
Production of electric and hybrid vehicles fell by a third compared to last year, also due to increased demand.
The figures come after Vauxhall maker Stellenbosch announced this week that it would close its Luton van factory this week, part of a move to accelerate the transition to electric vehicles in the UK. There are laws.
Additionally, Ford said last week that it would cut 800 jobs in the UK over the next three years due to difficult business conditions, including fierce competition and low demand for electric vehicles.
Mike Hawes, chief executive of SMMT, said: “These are very worrying times for the automotive industry, with massive investment in plants and new zero-emission products under intense pressure.”
Globally, demand for EVs has fallen, he said, while in the UK, manufacturers face the “toughest targets and fastest timelines” without the incentives consumers need to boost demand. .
Under the UK’s zero-emissions mandate, manufacturers are currently required to sell a certain percentage of cars and vans that emit zero emissions before sales of new petrol and diesel cars are banned in 2030.
In 2024, EVs should account for 22% of the automaker’s car sales, and 10% of van sales. This target is set to increase.
For every sale that pushes it outside the mandate, firms must pay a £15,000 fine – but they can also buy “credits” from firms that meet the mandate.
The government has said that it will consult on these laws.
[ad_2]
Source link