Overview

• UK vehicle production fell to 49,810 units in May, marking the fifth straight month of declines and the weakest May performance since 1949 outside the pandemic.
• Exports to the US tumbled 55.4% under the 25% tariff and EU-bound shipments dropped by 22.5%, according to the Society of Motor Manufacturers and Traders.
• At the G7 summit, the US and UK reaffirmed their June agreement to charge a 10% duty on up to 100,000 UK-made cars each year.
• Jaguar Land Rover temporarily halted all US deliveries in response to the initial 25% levy, highlighting the strain on luxury brands.
• In May, Britain also secured a trade deal with India that reduces auto tariffs and sets annual import quotas to boost market access.