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UK car production falls 50% in April on Brexit

UK car production falls 50% in April on Brexit

Mubasher: Car production in the UK went down by almost 50% in April as factories sought to manage the uncertain impact of Brexit previously scheduled to take place on 29 March, CNBC said.

The European Union (EU) granted the British government a Brexit extension until the end of October.

Factories based in the UK including Jaguar Land Rover, BMW Mini, Honda, and Peugeot-owned Vauxhall were among the companies that carried out shutdowns in April.

UK factories produced only 70,971 vehicles in April, according to data provided by the Society of Motor Manufacturers and Traders (SMMT) on Thursday. 

Mike Hawes, SMMT chief executive, said that fear of a “no deal” Brexit was “holding back progress, causing investment to stall, jobs to be lost and undermining our global reputation.”

It is worth noting that Honda announced previously that it would close a plant in England.