British car production has fallen for the 10th consecutive month, with the threat of a ‘no-deal Brexit’ crippling the outlook for industry on its knees according to the Society of Motor Manufacturers and Traders.
The SMMT’s latest figures show that for the month of March production for the home market was down 18.1% for the home market and 13.4% for overseas, with the overall figure showing a slump of 14.4%.
The prospect of a ‘no-deal’ Brexit remains a real possibility and on the back of previous warnings, the SMMT’s Chief Executive, Mike Hawes has issued a stark warning that their forecasts a predicting a “fall around 30% on recent levels to just 1.07 million units by 2021, a level consistent with the dark days of the mid-1980s.”
“Despite the extension, the Brexit clock is still ticking and a devastating ‘no deal’ remains a threat. This new period of limbo does not end the havoc for industry, with investment stopped and expensive factory shutdowns moved to avoid a Brexit deadline that has itself now moved,” said Mike Hawes, chief executive of the SMMT.
“Just a few years ago, industry was on track to produce two million cars by 2020 – a target now impossible with Britain’s reputation as stable and attractive business environment undermined.
“All parties must find a compromise urgently so we can set about repairing the damage and diverting energy and investment to the technological challenges that will define the future of the global industry.”