Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Carmakers recover ground in first three month of the year with rising exports to EU

by April 28, 2023
April 28, 2023
Carmakers recover ground in first three month of the year with rising exports to EU

The number of cars built in the first three months of the year rose by 6 per cent, but the overall volume of vehicles produced remains lower than before the pandemic.

Production totalled 219,887, according to figures published by the Society of Motor Manufacturers and Traders.

The trade group said that the global shortage of semiconductors which choked off production last year had started to ease, enabling factories to produce 12,540 more cars than a year earlier. Exports increased by 6.6 per cent and represented almost eight in ten cars made.

About two thirds of exported cars went to the European Union, with shipments increasing by 4.9 per cent, while those to the next biggest markets, the United States and China, fell by 4.1 per cent and 8.3 per cent respectively.

The society said that combined volumes of hybrid, plug-in hybrid and battery electric vehicles rose by 75 per cent last month, compared with a year earlier, to 32,546. Two in five cars built last month featured ultra-low or zero-emission powertrain technology. This trend was set to continue with more than 20 models of electric cars, vans, buses, trucks and taxis expected to be in production in the UK by next year.

Mike Hawes, chief executive, said: “A second consecutive month of growth for UK car production gives cause for optimism, though volumes are still well below pre-pandemic levels.”

Richard Peberdy, at KPMG, said: “Big questions still remain unanswered about how the UK will produce electric vehicles at much larger scale.”

Read more:
Carmakers recover ground in first three month of the year with rising exports to EU

0
FacebookTwitterGoogle +Pinterest
previous post
UK failing to honour net zero farming pledges, report finds
next post
Business confidence at highest for a year

You may also like

UK service sector sheds jobs for fifth month...

March 6, 2025

How to choose an SEO-friendly domain name

October 3, 2022

Uber announces new updates to make it easier...

June 8, 2023

Shop price inflation holds steady as retailers keep...

March 4, 2025

The Poker Face of Business: Lessons for UK...

September 5, 2024

Amazon pledges $4bn to Anthropic in race for...

September 25, 2023

NatWest boss’s ‘£2.4m exit deal’ is a disgrace,...

August 23, 2023

Deciphering Market Trends: The Compass of Trading Indicators

May 7, 2025

Passport delay warning as five-week strike called

March 17, 2023

Comprehensive Guide to EcoVadis Assessments: How DEKRA Supports...

February 17, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • XRP price prediction hits new highs, GMO Miner helps you earn $6,800 a day

      August 28, 2025
    • West End retailers lose £310m from VAT-free shopping ban in first half of year

      August 28, 2025
    • Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence

      August 28, 2025
    • CDC Director Susan Monarez refuses to be fired as other officials call it quits

      August 28, 2025
    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025
    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025

    Categories

    • Business (8,900)
    • Investing (2,246)
    • Politics (16,503)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved