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Financial News: UK Car Production Remains Far Below Pre-Pandemic Levels:

UK Car Production Remains Far Below Pre-Pandemic Levels: SMMT

06/25/2021 - 06:47:00 (RTTNews)

(RTTNews) - The UK car production remained far below pre-pandemic levels in May despite the continuation of the recent rising trend, data published by the Society of Motor Manufacturers and Traders, or SMMT, showed on Friday.

Car production surged 934.3 percent from May 2020, when the coronavirus pandemic halted manufacturing. Some 54,962 cars rolled off production lines compared to just 5,314 a year ago.

So far this year, UK factories have turned out 429,826 cars, up 32.4 percent from the same period last year. About 95 percent of the additional volume was built for exports.

When compared with a five-year average, production was down -58.0 percent for the month and -36.3 percent for the period January to May period.

The recovery of car production is, however, still massively challenged here and abroad by global supply shortages, particularly semiconductors, Mike Hawes, SMMT Chief Executive, said.

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