Latest news with #vehicleproduction
Yahoo
23 minutes ago
- Automotive
- Yahoo
UK made fewer vehicles for the fifth straight month in May as tariffs bite
(Reuters) -Britain's vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and U.S. tariffs weighed on automakers. UK car and commercial vehicle production dropped 32.8% from a year ago to 49,810 units last month, marking the worst percentage drop in May output since 1949, excluding the COVID-19 pandemic-hit 2020, according to data from the Society of Motor Manufacturers and Traders. Exports to the UK's two biggest markets, the EU and the U.S., declined by 22.5% and 55.4% respectively, SMMT said. U.S. President Donald Trump's 25% tariffs on imported automobiles and parts, imposed in March, have disrupted global supply chains, added hundreds of millions of dollars in costs for manufacturers, prompted export suspensions and pushed several automakers, especially in Europe, to consider shifting production to the U.S. to avoid the duties. British manufacturing also contracted in May, as output, orders and employment declined. Still, SMMT chief Mike Hawes said the UK's trade deals, especially with the U.S., and a more positive relationship with the EU, provided some optimism. The U.S. and UK reaffirmed a previously agreed trade deal during the G7 summit in Canada earlier this month, under which up to 100,000 UK-made cars a year can enter the U.S. at a 10% tariff, lower than the 25% rates other countries face. In May, Britain reached a trade deal with India to lower tariffs and set quotas on auto imports, while also moving closer to the European Union on cooperation in defence, energy and agriculture. Car production, excluding commercial vehicles, dropped by 31.5% in May, largely driven by model changeovers, restructuring and the impact of U.S. tariffs, SMMT said. Sign in to access your portfolio
Arab News
7 hours ago
- Automotive
- Arab News
UK made fewer vehicles for the fifth straight month in May as Trump tariffs bite
Technicians work on a Rolls-Royce engine prior to it being installed in a car on the production line of the Rolls-Royce Goodwood factory. (AFP) LONDON: Britain's vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and US tariffs weighed on automakers. UK car and commercial vehicle production dropped 32.8 percent from a year ago to 49,810 units last month, marking the worst percentage drop in May output since 1949, excluding the COVID-19 pandemic-hit 2020, according to data from the Society of Motor Manufacturers and Traders. Exports to the UK's two biggest markets, the EU and the US, declined by 22.5 percent and 55.4 percent respectively, SMMT said. US President Donald Trump's 25 percent tariffs on imported automobiles and parts, imposed in March, have disrupted global supply chains, added hundreds of millions of dollars in costs for manufacturers, prompted export suspensions and pushed several automakers, especially in Europe, to consider shifting production to the US to avoid the duties. British manufacturing also contracted in May, as output, orders and employment declined. Still, SMMT chief Mike Hawes said the UK's trade deals, especially with the US, and a more positive relationship with the EU, provided some optimism. The US and UK reaffirmed a previously agreed trade deal during the G7 summit in Canada earlier this month, under which up to 100,000 UK-made cars a year can enter the US at a 10 percent tariff, lower than the 25 percent rates other countries face. In May, Britain reached a trade deal with India to lower tariffs and set quotas on auto imports, while also moving closer to the European Union on cooperation in defense, energy and agriculture. Car production, excluding commercial vehicles, dropped by 31.5 percent in May, largely driven by model changeovers, restructuring and the impact of US tariffs, SMMT said.
Reuters
10 hours ago
- Automotive
- Reuters
UK made fewer vehicles for the fifth straight month in May as tariffs bite
June 27 (Reuters) - Britain's vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and U.S. tariffs weighed on automakers. UK car and commercial vehicle production dropped 32.8% from a year ago to 49,810 units last month, marking the worst percentage drop in May output since 1949, excluding the COVID-19 pandemic-hit 2020, according to data from the Society of Motor Manufacturers and Traders. Exports to the UK's two biggest markets, the EU and the U.S., declined by 22.5% and 55.4% respectively, SMMT said. U.S. President Donald Trump's 25% tariffs on imported automobiles and parts, imposed in March, have disrupted global supply chains, added hundreds of millions of dollars in costs for manufacturers, prompted export suspensions and pushed several automakers, especially in Europe, to consider shifting production to the U.S. to avoid the duties. British manufacturing also contracted in May, as output, orders and employment declined. Still, SMMT chief Mike Hawes said the UK's trade deals, especially with the U.S., and a more positive relationship with the EU, provided some optimism. The U.S. and UK reaffirmed a previously agreed trade deal during the G7 summit in Canada earlier this month, under which up to 100,000 UK-made cars a year can enter the U.S. at a 10% tariff, lower than the 25% rates other countries face. In May, Britain reached a trade deal with India to lower tariffs and set quotas on auto imports, while also moving closer to the European Union on cooperation in defence, energy and agriculture. Car production, excluding commercial vehicles, dropped by 31.5% in May, largely driven by model changeovers, restructuring and the impact of U.S. tariffs, SMMT said.
Auto Car
10 hours ago
- Automotive
- Auto Car
US tariffs drag UK vehicle production to lowest level since 1949
The US's introduction of tariffs on foreign-built vehicles resulted in last month being the worst May for vehicle production in the UK since 1949 – excluding 2020, when Covid-19 lockdowns shuttered many plants. Several car manufacturers, including Aston Martin, Lotus and JLR, paused shipments to the US following its introduction of a 25% levy on car imports. This was soon reduced to 10% for the UK, for an annual quote of 100,000 units. Each car over that number – the UK sent 102,000 Stateside last year – is charged the full 25% levy that applies to other nations.
Entrepreneur
17-06-2025
- Automotive
- Entrepreneur
Auto Industry Faced a Turbulent May 2025: SIAM
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's automobile sector continued its forward march in May 2025, registering consistent output and sales across most vehicle categories, according to the latest data released by the Society of Indian Automobile Manufacturers (SIAM). The report reflects a mixed bag of performance amid the auto industry. The industry produced a total of 25,82,207 vehicles in May 2025, a modest increase from 24,55,637 units during the same period last year. Domestic sales also saw an uptick, reaching 20,12,969 units compared to 19,76,674 in May 2024. However, the growth wasn't uniform across all categories. The passenger vehicles segment, which includes cars, utility vehicles, and vans, recorded a production increase to 3,89,491 units in May 2025 from 3,69,648 units in May 2024. Yet, domestic sales told a different story, edging up only slightly to 3,03,099 units from 3,00,795. While these figures represent the second-highest May sales on record for the PV segment, it still marked a marginal year-on-year decline of 0.8 per cent. "All vehicle segments posted stable performance in May 2025," noted Rajesh Menon, director general of SIAM. "Passenger Vehicles segment posted sales of 3.45 lakh units, though 2nd highest ever of May, the segment de-grew marginally by (-) 0.8 per cent compared to May 2024." The two-wheeler segment, which forms the backbone of India's mobility landscape, fared better. It saw a growth of 2.2 per cent in domestic sales, reaching 16,55,927 units, up from 16,20,084 units in May 2024. Production also rose, from 20,10,446 units in 2024 to 21,04,790 units this year, maintaining its position as the largest contributor to overall vehicle numbers. Conversely, the three-wheeler segment experienced a dip. Domestic sales dropped to 53,942 units in May 2025 from 55,763 units the year before, marking a decline of 3.3 per cent. Production, however, rose from 74,879 to 87,555 units, suggesting manufacturers may be anticipating a rebound or focusing on export markets. "Three-Wheelers de-grew by (-) 3.3 per cent compared to May of previous year, with sales of 0.54 lakh units," Menon stated. On the brighter side, he emphasized the potential of macroeconomic levers in improving the sector's future outlook. "Going forward, the RBI's three repo rate cuts totalling 100 basis points in less than six months, along with a forecast of above-normal monsoons are some of the indicators which should positively impact the Auto sector by improving affordability and boosting consumer sentiment in the coming months." The quadricycle segment, while still nascent, remained negligible in its contribution, with production falling from 664 units in May 2024 to 371 units this year. Only one unit was sold domestically, a steep drop from 32 last year, underscoring its limited market traction.
