A ‘no-deal’ Brexit must be ruled out now to avoid damaging one of the EU’s most valuable economic assets, the Society of Motor Manufacturers and Traders is warning. Time is running out, and negotiators on both sides of the Channel must prioritise the agreement of terms for a managed withdrawal and ‘status quo’ transition as soon as possible. ‘No-deal’ would undermine the industry’s ability to … [Read more...]
Car exports hit 17 year high on weaker pound
Exports continued to drive British car manufacturing in March, as demand rose 10.6% in the month to a 17 years high, according to the SMMT. Altogether, 170,691 cars were built in the UK in March, up 7.3%, with overseas buyers ordering more than 76% of output. Overseas demand also helped push overall production to a 17-year high in Q1, to 471,695 units – an increase of 7.6%. This helped … [Read more...]