UK Car Production Has Fallen To Lowest Levels Since 1956

2021 was a dismal year for the UK automotive industry, as output fell 6.7 percent to less than 860,000 units – the lowest since 1956.  Figures released today by the Society of Motor Manufacturers and Traders (SMMT) reported that production went down 34 percent on pre-pandemic levels, especially as a result of the pandemic and supply chain issues such as the semiconductor shortage.  “The biggest single cause of this is semiconductors, as the average car takes between 1,500 and 3,000 chips. That was the most impactful issue”…