Britain sees huge drop in car production due to global supply challenges

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Britain sees huge drop in car production due to global supply challenges

STORY: Britain sees huge drop in car production due to global supply challenges DATELINE: April 29, 2022 LENGTH: 00:01:04 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of cars on London streets 2. various of electrified vehicles on display STORYLINE: Britain's car manufacturing shrank by 32.4 percent year on year in the first quarter of 2022 due to the ongoing global shortage of semiconductors and other components, an industry report said on Thursday. With almost 100,000 fewer units made than in the same period last year, only 207,347 new cars were built during the first three months of 2022, according to the report by the Society of Motor Manufacturers and Traders (SMMT), the trade association for the British motor industry. In March, output fell by 33.4 percent year on year to 76,900 units, driven primarily by a decrease in production for overseas markets, making it the weakest March since 2009 when the global financial crisis was raging, the report said. Exports to the United States also sa

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