A persistent trade imbalance between the United States and the European Union in the sector is being driven by deeper structural issues than tariffs alone
President Donald Trump announced his administration's plan to impose a 25% tariff on imported car, semiconductors, and pharmaceutical products, with the new levies potentially taking effect as early as April 2.
Chinese newcomer brands Omoda and Jaecoo have recorded sales of over two million vehicles from January to October 2024, with overseas exports reaching 941,275 vehicles, an increase of 23.8%.
Car production slumped to a nine-year January low in the UK despite a 4.1% year-on-year rise in exports volumes, the Society of Motor Manufacturers and Traders (SMMT) has reported.
The British Independent Motor Trade Association (BIMTA) has claimed that as trend towards rising wholesale used car values has been compounded by the UK market’s biggest vehicle export drive in more than 20 years.
Year-on-year car production growth of 7.5% saw UK-based car manufacturers register their most productive January in nine years, with 147,922 units rolling off the production lines.
Bristol Street Versa, Vertu Motors’ specialist wheelchair accessible division, has forged a deal to export vehicles to New Zealand.
