UK car production fell to its lowest level in nearly 70 years in 2024, as the industry struggles with weak demand and transitions to electric vehicles, with further disruptions expected if tariffs are imposed by the U.S.
Car production in the United Kingdom reached its lowest level in nearly seven decades in 2024, excluding the impact of the COVID-19 pandemic. The decline comes as the industry grapples with weak demand and prepares to transition from fossil fuels to electric vehicles.
According to the Society of Motor Manufacturers and Traders (SMMT), the number of cars produced in the UK dropped to 780,000, marking the lowest output since 1954.
SMMT Chief Executive Mike Hawes noted that the downturn was partly due to factory shutdowns as manufacturers shifted to electric vehicle production. However, he also pointed out that the sector continues to struggle with global demand and slower-than-expected growth in electric vehicle sales.
In a competitive global market, the UK is facing challenges in maintaining its position as a major car manufacturer. British carmakers are bracing for further disruptions, particularly if President Donald Trump imposes tariffs on imports from the UK’s second-largest market.
Sales of electric and hybrid vehicles in China saw a strong year-on-year growth in May, boosted by government-backed trade-in programs designed to stimulate domestic consumption.
A cargo ship carrying around 800 electric vehicles caught fire off Alaska, forcing its 22 crew members to abandon the vessel amid rising concerns over maritime EV fires.
Chinese EV maker BYD has unveiled its budget-friendly Dolphin Surf in Berlin, intensifying competition in Europe's electric car market with prices starting at just €19,990.
SOCAR Energy Switzerland, a subsidiary of the State Oil Company of the Azerbaijani Republic (SOCAR), has commissioned Switzerland’s first fast-charging station for electric trucks.
Toyota has signed a $2 billion deal to build a wholly-owned electric vehicle plant in Shanghai, as the Japanese automaker strengthens its position in China’s growing EV market during heightened US-China trade tensions.
Italy has frozen Russian oligarchs' assets worth €2.3 billion since the 2022 Ukraine invasion, as part of EU sanctions, with additional seizures targeting Iranian-linked companies accused of aiding Moscow.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
The European Union’s Commissioner for Industrial Strategy urged European countries to establish joint reserves of rare earth materials to reduce dependence on China and protect against supply disruptions.
The Kremlin has strongly condemned the recent U.S. strikes on Iranian nuclear facilities, warning they could trigger wider instability in the region and deepen the ongoing conflict.
Iran's top diplomat has travelled to Moscow with a message from Supreme Leader Khamenei, seeking greater support from Russia after the most significant U.S. military action against Iran in decades.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
Italy has frozen Russian oligarchs' assets worth €2.3 billion since the 2022 Ukraine invasion, as part of EU sanctions, with additional seizures targeting Iranian-linked companies accused of aiding Moscow.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
The European Union’s Commissioner for Industrial Strategy urged European countries to establish joint reserves of rare earth materials to reduce dependence on China and protect against supply disruptions.
The Kremlin has strongly condemned the recent U.S. strikes on Iranian nuclear facilities, warning they could trigger wider instability in the region and deepen the ongoing conflict.
Iran's top diplomat has travelled to Moscow with a message from Supreme Leader Khamenei, seeking greater support from Russia after the most significant U.S. military action against Iran in decades.
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