Figures from the Society of Motor Manufacturers and Traders reported today show that car production in the UK last year was at its lowest level since 1984. Professor Christian Stadler of Warwick Business School comments on the 'perfect storm' of factors behind this.
Professor Stadler said: “The heyday of car production in the 1970s is past and we’ve seen a slow decline since then in many car brands. We have had a perfect storm in recent years, with a reduction of car sales due to Covid but also uncertainty from consumers due to Brexit and producers looking to invest elsewhere. The UK has marginalised itself even more due to Brexit, it has helped itself by negotiating a trade deal but producers are still trying to work out the details which are likely to increase costs of production in the UK. From the perspective of a manufacturer it makes sense to invest elsewhere with easier access to bigger markets and lower production costs. What we see at the moment is a sign of things to come.”
28 January 2021
Media Relations Manager (Warwick Medical School and Department of Physics)
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