Almost half of the UK’s carmakers and parts suppliers have axed or delayed investment because of rising energy prices, the industry’s trade group has warned, as it urged “long-term action” from the government on companies’ costs.
The Society of Motor Manufacturers and Traders on Thursday said that manufacturers had experienced a £100mn rise in power bills and that the sector would be at risk without extra state support.
That means carmakers will have been passing higher costs from suppliers on to consumers, pushing up the end price of vehicles.
His comments came as manufacturing figures published by the SMMT on Thursday showed a 34 per cent rise in UK car production in August, compared with what it called “dismal” 2021 figures.
The 49,901 cars that were made in August, typically one of the quietest for carmakers, equates to almost half the level produced before the coronavirus pandemic.
mobilenewspepar.com.
MobileNewspeparhttp