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.
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.
China is tightening regulations on battery-powered vehicles and will require its automakers to comply with higher battery safety standards, aiming to reduce risks of fire and explosions in the fast-growing sector.
China's new energy vehicle (NEV) market saw impressive growth in February, with sales hitting 686,000 units. This increase highlights the country's strong push toward electrification, driven by government incentives, improved infrastructure, and growing consumer demand.
Ukraine has outlined its formal negotiating framework ahead of planned peace talks with Russia, set to take place on June 2 in Istanbul, according to a full document seen by Reuters.
U.S. Treasury Secretary Bessent said on Sunday that he expects President Donald Trump and Chinese President Xi Jinping to speak soon in an effort to resolve a growing dispute over critical minerals.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
Ukraine has outlined its formal negotiating framework ahead of planned peace talks with Russia, set to take place on June 2 in Istanbul, according to a full document seen by Reuters.
U.S. Treasury Secretary Bessent said on Sunday that he expects President Donald Trump and Chinese President Xi Jinping to speak soon in an effort to resolve a growing dispute over critical minerals.
As Germany considers providing long-range Taurus missiles to Ukraine, military experts warn the move could enable Kyiv to strike targets deep inside Russian territory, including Moscow — a shift that could escalate tensions and draw NATO closer to direct confrontation.
Ukraine has carried out one of its largest drone strikes of the war, reportedly hitting more than 40 Russian military aircraft at multiple air bases, a Ukrainian security official told Reuters on Sunday.
Ukrainian President Volodymyr Zelenskyy said on Sunday that Ukraine will attend a meeting in Istanbul on Monday, following a proposal from Russia.
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