Tom Espiner
Business reporter, BBC News
Reuters
UK car production sank to its lowest level for May since 1949 as US tariffs hit exports, an industry group has said.
Production fell by nearly a third from a year earlier to 49,810 units, according to the Society of Motor Manufacturers and Traders (SMMT), which – excluding the period hit by the 2020 Covid pandemic lockdowns – was the lowest figure for 76 years.
Exports to the US halved as President Donald Trump’s tariffs caused some UK car makers to halt shipments.
However, US import taxes on UK cars are due to be cut by the end of June, giving cause for optimism, the SMMT said.
The drop in exports to the US came after the Trump administration announced new 25% tariffs on cars and car parts in March.
This “depressed demand
Read More