UK car output has been hit hard by the COVID-19 crisis and is forecast to be down by a third this year
UK car output declined 48.2% in June with 56,594 units produced, rounding off the weakest first six month period since 1954 as the industry was severely impacted by the COVID-19 pandemic.
UK factories turned out just 381,357 cars in the year-to-date, down 42.8% on 2019 – a decline of more than 285,000 units.
The SMMT also said that 11,349 jobs have already been lost across automotive manufacturing and retail during the pandemic, with more at stake without dedicated restart support as firms fear double whammy of Brexit tariffs.
The SMMT called for urgency in talks to secure an ambitious EU FTA quickly as a new survey reveals 9 in 10 firms lack clarity to prepare for the end of the Brexit transition period at the end of the year.
Although post-shutdown production slowly ramped up in June, strict social distancing measures and weak demand across global markets continued to restrict output.
June manufacturing for the domestic market was down by 63.8%, reflecting the gradual easing of the UK’s retail lockdown. Production for export also fell, by a substantial 45.0%, although overseas orders accounted for nine out of 10 vehicles built as key global markets, including in the EU, China, US, South Korea and Japan, opened for business earlier than the UK.
While June marked a vast improvement on April and May, when only a combined 5,511 cars were built, the performance rounded off the worst first six months for UK car production since 1954.
Mike Hawes, SMMT Chief Executive, said: “These figures are yet more grim reading for the industry and its workforce, and reveal the difficulties all automotive businesses face as they try to restart while tackling sectoral challenges like no other. Recovery is difficult for all companies, but automotive is unique in facing immense technological shifts, business uncertainty and a fundamental change to trading conditions while dealing with coronavirus.
“The critical importance of an EU-UK FTA is self-evident for UK Automotive. Our factories were once set to make two million cars in 2020 but could now produce less than half that number, a result of the devastating effects of the pandemic on top of already challenging market conditions and years of Brexit uncertainty. This industry has demonstrated its inherent competitiveness and global excellence over the past decade. Its long-term future now depends on securing a good deal and a long-term strategy that supports an industry on which so many thousands of jobs across the country depend.”
The latest independent production outlook commissioned by SMMT expects just over 880,000 cars to be produced in the UK this year – some 32% lower than made in 2019 and 30% less than anticipated in January pre-crisis. If realised, this would be the lowest total since 1957.
The analysis also suggests that without a positive trade agreement with the EU, and the industry trading on WTO terms with 10% tariffs, output could stay around the 800,000 mark or less to 2025, while a successful conclusion to negotiations with a zero tariff and quota FTA would see car volumes recovering to pre-crisis levels of 1.2 million units within the next few years and the potential for further long-term growth after that.
Feast your eyes on the all-new, all-electric GMC Hummer EV
GMC has a new all-electric version of its classic Hummer oversized SUV. This thing is a beast, as you might expect, with an advertised 350-mile range and a 3-second zero to 60 mph time. It’s a bit ridiculous to be honest, which is kind of what the Hummer has always been about so that makes sense.
Alongside a teaser, GMC released a number of press photos of the 1,000 HP bruiser, so take a look below. It definitely looks like a Hummer – which may or may not be your cup of tea.
ALYI Highlights Next Steps
Dallas, TX – October 20, 2020 – OTC PR WIRE – Alternet Systems, Inc. (OTC PINK: ALYI) today announced plans to publish a comprehensive progress update next week targeting a Wednesday, October 28th release date.
Management indicates a number of major endeavors underway in important stages of development to include RevoltTOKEN financing partner’s efforts to finalize ICO details, next steps after finalizing the multiparty milestone agreement announced last week, and a new design path development for the company’s long-term plans for future electric vehicles in Africa.
Management anticipates wrapping up details on the above-mentioned endeavors by next Wednesday and being ready to release a comprehensive update.
For more information and to stay up to date on ALYI’s latest developments, please visit www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
Ultrack Systems Inc. Sets Deployment Schedule for MJLB’s New CANBUS Comprehensive Vehicle Monitoring Device
Concord, Ontario, October 20, 2020 – OTC PR WIRE – Ultrack Systems Inc., (OTC PINK: MJLB) is pleased to announce that the development of our J1939 CANBUS Device will be completed by the end of the 4th quarter and ready for immediate deployment in vehicle fleets around the globe. The J1939 is developed to provide the most complete and comprehensive list of vehicle information available at the click of a mouse. The Company is not aware of any other single product that provides as much real-time data to vehicle fleet managers as the upcoming J1939.
The Ultrack J1939 CANBUS Device is being developed for transport that does not require Electronic Logging Device (ELD) but would benefit from the comprehensive engine and overall vehicle data that it provides. Our device will have the following features, 4G with external GPS antenna, built in cellular antenna, 4 inputs, 2 outputs, 2 temperature sensor inputs, camera for still images and an SOS button. Among hundreds of other data points, the J1939 logs in real time statistics such as: oil pressure, engine temperature, real-time physical location, fuel rate, engine speed at various points, vehicle speed at various points, and transmission data.
The J1939 CANBUS device is being developed to fulfill a substantial void in the fleet trucking industry. Ultrack’s technology is uniquely developed through our relationships with existing customers. Our J1939 will provide enhanced comprehensive data that will improve fuel management, lower maintenance costs, reduce theft, loss, and streamline fleet operations.
Ultrack CEO Michael Marsbergen stated: “Through continued engagement with our clients we have developed this product to meet their needs as vehicle data is a vital tool to enhance corporate profitability. In 2020 the trucking industry is important as it has ever been as a crucial component to life-saving supply chains. Our hardware and software solutions provide a one-company solution to help these supply chains fulfill their roles on time and with significant fiscal savings”. Marsbergen continued “People have frequently asked me what the cost benefits and value of a product like this are for our clients. The answer is simple and the cost benefits are clear, through our J1939 CANBUS our clients have the ability to save money on fuel costs from unauthorized traveling, monitor and handle vehicle functionality problems early on in order to also save money. Our products limit continued damage caused by unseen issues while also monitoring driver patterns such as hard braking, hard acceleration and speeding.”
Ultrack was classified as an essential service during the pandemic in Canada. The Company continues to pursue new business with vehicle fleets not only in Canada but around the world. MJLB encourages investors to monitor our social media channels as we update on these new revenue streams.
Located in Concord, Ontario, Ultrack Systems Inc., (www.ultrack.ca) is a publicly traded company listed on the OTCMARKETS under the MJLB trading symbol. Ultrack Systems Inc., is a provider of GPS tracking solutions. We develop, implement, and distribute electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other service driven industries. Our platform includes live tracking, reports, and alerts on a web-based platform. Our mission is to provide the best fleet tracking, reporting systems and our commitment to service.
Safe Harbor Statement
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Ultrack Systems, Inc
AI-Driven Dynamic Filmmaking is the Future
Angry Birds VR and Acron: Attack of the Squirrels Gear up for Halloween
This Is a $103 Billion Profit Opportunity
Power Plant Boiler Market by Type, Capacity, Technology, Fuel Type, and Region – Global Forecast to 2025
Rising Phoenix Royalties Announces Second Yoakum County, Permian Basin, Oil and Natural Gas Royalty Acquisition
Chem-Dry Grows Amid Pandemic with Signed Agreements to Open 64 New Franchises Across the Nation
Key Trends and Recent Innovations in Powder Bed Fusion, IDTechEx Identifies
Bitcoin Breaks $12K Resistance and Aims for $14K as BTC Rallies Higher in the Expense of Altcoins
Pasternack Now Offers a Broad Selection of Field Replaceable Connectors Available for Same-Day Shipment
Star Wars: Tales from the Galaxy’s Edge Gameplay Trailer Drops With November Date for Oculus Quest
The Briefing: RVShare raises over $100M, Google disputes charges, and more
Mode Adds Bitcoin to Reserves, Joining Microstrategy and Square
Has Bitcoin met its match with this altcoin?
Syte Sees $30M Series C For Product Discovery
What could a Democrat Sweep in US Elections mean for Bitcoin?
Yearn Finance Adds GUSD Vaults and Updated Keep3r Network Details
B2BX Exchange Announces B2BX Token Buyback
Coinend: 1, 2, 3 Take off -New Gamified Crypto Prediction Platform!
GenTech Proudly Secures Deal with TruLife Distribution to Drive Growth in SINFIT Digital Sales
Coinend: 1, 2, 3, Take off – New gamified crypto prediction platform!
PayPal to allow transactions in Bitcoin, Ethereum etc. from 2021
Ripple CTO Assesses XRP as a Bridge Cryptocurrency Between CBDCs, Stablecoins, and Fiat
Top 10 Big Data trends of 2020
5 Things to Know Before Investing in Bitcoin
Intellimize Closes $12M Round Of New Funding
Fintech Startups Broke Apart Financial Services. Now The Sector Is Rebundling
eBay makes a dedicated portal for officially refurbished gear
Headout & Nuclei partner to enable customers to book events & experiences directly from their mobile Banking applications
Community Token Sector Blossoms Alongside Surging NFT Market Caps
Study Reinforces Sustainability of Ring Container Technologies’ SmartCAN™
AutoNation Board Raises Share Repurchase Authorization – Quick Facts
Conversion Labs Appoints Former White House Physician and U.S. Navy Rear Admiral, Dr. Connie Mariano, to Board of Directors
Mehiläinen Yhtiöt Oy supplements the tender offer document dated 8 January 2020 regarding the public cash tender offer for all shares in Pihlajalinna Plc
AutoNation Inc. Q3 adjusted earnings Beat Estimates
Outlook on the Commercial Aviation Aircraft Tires Global Market to 2025 – by Type, Aircraft Type, Position, End-user & Geography
Global CRO Services Market to Rise Impressively at 9.9% CAGR and Reach US$ 90,926.3 by 2026; forecast to Gain Impetus from Recent Mergers and Acquisitions, says Fortune Business Insights
Broadridge 2020 Sustainability Report Underlines Commitment to ESG
Winnebago Industries Q4 Profit Rises; Revenues Up 39.1% – Quick Facts
TG Therapeutics Announces Fast Track Designation Granted by the FDA to Ublituximab in Combination with Umbralisib for the Treatment of Adult Patients with Chronic Lymphocytic Leukemia
Collection Sites Announces Agreement with Sandor Development to Launch Testing Sites at 65 Big Boxstore Locations Across the U.S.
Techcrunch4 days ago
Original Content podcast: It’s hard to resist the silliness of ‘Emily in Paris’
Gaming1 week ago
‘Call of Duty: Mobile’ Season 11 Anniversary Update Is Out Now with a New Battle Pass Coming Soon, New Maps, XP Card Changes, and a Lot More
AI1 week ago
Key Challenges and Benefits of AI Chatbots: A Balanced Perspective
1 week ago
Filecoin Fervor Gaining Momentum in China as Mainnet Nears Launch
1 week ago
Bitfinex launches EOS, Litecoin, and Polkadot Perpetual Swaps
Startups4 days ago
Solve the ‘dead equity’ problem with a longer founder vesting schedule
AI1 week ago
Future of Contact Centers Enabling Employees to Work from Home
Startups4 days ago
Three views on the future of media startups