UK car production declined at the fastest pace in 66 years during the year 2022, as global chip shortages and structural changes hampered output coupled with weaker exports, while electrical vehicle production reached a record level, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.
Total car production fell 9.8 percent to 775,014 units, which was the lowest level since 1956. In 2021, the car production was 859,575 units.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.