New car manufacturing figures for the UK released today by SMMT reveal the scale of the first big hit from the coronavirus crisis. In March last year the country produced a little over 126 thousand cars (the majority of which for export). This year, with factories shut due to the pandemic, that figure sunk to only 76,767. This represents a fall of 38 percent.
Commenting on the figures Mike Hawes, SMMT Chief Executive, said: "UK Automotive is fundamentally strong but, as these figures show, it is being tested like never before, with each week of shutdown costing the sector and economy billions. Government’s emergency measures are helping keep many companies afloat and thousands of people in jobs, but liquidity remains a major concern and will become even more stretched as the industry begins to restart."