Britain's carmakers ‘the most vulnerable in Europe'
Britain's 'precarious' car industry is at greater risk than any other in Europe as the global market is reshaped by competition between the US and China, a new report warns.
In an outlook for 2025, researchers at consultancy AlixPartners said they expected car sales to grow by just 1pc around the world with growth in China and Asia offsetting sluggish demand in the West.
This, along with the impact of US tariffs, is expected to force car companies to slash costs and production as they also divert cash towards the development of electric models.
But the researchers warned that within this tough environment, Britain was 'potentially the most disadvantaged market of all' because of its high energy costs, 'fragmented' supply chains, skills shortages and 'political and economic uncertainty'.
Andrew Bergbaum, of AlixPartners, said the majority of cars made in Britain were also exported – leaving the domestic industry exposed as manufacturers look to cut back output.
He said: 'The polarisation of the car market between the US and China is going to hit Europe very hard – the Europeans are stuck between two big players.
'And unfortunately, the UK is a highly disadvantaged market in a highly disadvantaged region.'
Britain's energy prices, for example, would remain high even after recently-announced support from the Government, he added.
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