US car production fell 11% in April, attributing the decline to issues such as continuing processor shortages and the impact of the war in Ukraine, and the impact it had on supply chains.
The association of car manufacturers and dealers stressed that a total of 60,554 cars left the production lines in April, compared to 68,306 vehicles in April 2021.
This raises the number of cars produced in the first four months of the year to 267,901 from 374,864 in the same period of 2021.
Of these cars built last month, 12,768 were for the domestic market compared to 7,979 in April 2021.
“The UK car industry is exposed to a number of issues that undermine production and competitiveness.
Processor shortages worldwide and supply chain disruptions are exacerbated by energy costs, additional transaction costs and a slowdown in global markets, says Union leader Mike Hawes.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
