UK car output fell for the seventh consecutive month in September

Info comes via Reuters

UK car output fell for the seventh
consecutive month in September

• 20.6% decline y/y
• EV production fell 37% in September

Society of Motor Manufacturers and Traders (SMMT) cite:

• factories wound down
  production of current models to retool for new zero-emission
  vehicles (ZEV)
• drop also
  partly due to last year’s strong performance, which was the best
  since 2020

• “As UK Automotive undergoes its most radical transformation
  in more than a century, short-term production declines were
  always anticipated, and they represent a temporary adjustment in
  exchange for long-term growth”

This article was written by Eamonn Sheridan at www.forexlive.com.