According to Zhito Finance APP, auto production in the united kingdom fell for the eighth consecutive month in October, leading the united kingdom's auto industry association to warn that the prospects for auto manufacturers will further deteriorate.

Data from the Society of Motor Manufacturers and Traders (SMMT) shows that last month, auto production in the united kingdom declined by 15% compared to the same period last year. The association stated on Thursday that independent forecasting institution AutoAnalysis has revised its projections for production of cars and light trucks for 2024 and 2025 downward by 12% and 16% respectively.

This week, the united kingdom government pledged to provide more support for the auto industry and is in talks with auto manufacturers regarding a sales regulation for electric vehicles. The united kingdom government stated that this sales regulation has not achieved the expected results. Shortly after Stellantis (STLA.US) announced plans to close a 120-year-old factory in the united kingdom, the united kingdom's Secretary of State for Business, Jonathan Reynolds, proposed concessions.

SMMT CEO Mike Hawes stated: 'This is a very concerning time for the auto industry, as there is enormous pressure on large-scale investments in factories and new zero-emission products. We will work with the government to quickly review regulatory requirements and develop an ambitious comprehensive industry global strategy to ensure our competitiveness.'

The auto manufacturing industry in the united kingdom is declining.

AutoAnalysis currently estimates that auto manufacturers will produce 910,805 cars and light trucks this year. In November 2023, the institution forecasted the production for 2024 to be nearly 1.04 million units.

The forecasting institution expects that next year the production of cars and light trucks will decline by another 8%, to 838,665 units. A year ago, its forecast was 995,250 units.