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Car production in the UK fell by 9.1% to 1.52 million units due to the uncertainty about the country's withdrawal from the EU, the British Society of Motor Manufacturers and Traders (SMMT) reports. The recorded figure was the lowest since 2013, when 1.5 million cars were produced in Britain. The production of cars for the domestic market fell by 16.3% to 281.8 thousand, while production for export decreased by 7.3% to 1.24 million vehicles. In December, Britain produced 22.4% fewer cars than in 2017. The head of SMMT calls uncertainty over Brexit a serious challenge to production. If the country leaves the EU without an agreement, it will cause damage to the entire industry. Britain leaves the EU on March 29. Parliamentarians of the country spoke on January 29, they do not support the agreement in current form, as well as withdrawal from the European Union without an agreement.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. ...
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