Auto plant output rose in October, but the industry fears it will be one step forward, two steps back amid the growing possibility of a recession.
The latest figures from the Automobile Manufacturers and Dealers Association, the industrial trade body, show that 69,524 vehicles rolled off assembly lines last month, up nearly 4,800, or 7 percent, from the same month last year. This increase brings the total for the year to 721,000, down 10 percent year-on-year.
For better context, that’s less than half of industry output in the five-year average before the pandemic. At their peak in 2016, the year Britain voted to leave the European Union, British car factories were producing 1.7 million cars a year.Read:McDonald’s fans ‘devastated’ and ‘crying’ as it axes menu favourite as part of huge shake-up