Posted by AdviserDirect on 08/30/2019

British car industry suffers worst period of decline since 2001

British car industry suffers worst period of decline since 2001

The British car industry has witnessed its worst period of decline since 2001, as rising global trade tensions and Brexit uncertainty combine to provide a dire operating environment for manufacturers.

UK car production was down more than 10% year on year in July and has now fallen for 14 consecutive months, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The decline is now longer than the 13-month downturn between October 2008 and October 2009 at the height of the global financial crisis.

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