World Business Quick Take
TikTok cuts staff in India
Popular short-video app TikTok is cutting its workforce in India after hundreds of millions of its users dropped it to comply with a government ban on dozens of Chinese apps amid a military standoff between the two countries. “Given the lack of feedback from the government about how to resolve this issue in the subsequent seven months, it is with deep sadness that we have decided to reduce our workforce in India,” TikTok said in a statement on Wednesday. The statement did not give details. AUTOMAKERS
UK production down 29.3%
British vehicle production plunged by nearly one-third last year, the weakest annual output since 1984 as a result of COVID-19 fallout. Manufacturing slumped 29.3 percent to 920,928 vehicles compared with 2019, the Society of Motor Manufacturers & Traders said in a statement yesterday. “The industry faces 2021 with more optimism, however, with a vaccine being rolled out and clarity on how we trad
These figures, the worst in a generation, reflect the devastating impact of the pandemic on UK automotive production, with Covid lockdowns depressing demand, shuttering plants and threatening lives and livelihoods, said SMMT chief executive Mike Hawes. The industry faces 2021 with more optimism, however, with a vaccine being rolled out and clarity on how we trade with Europe, which remains by far our biggest market.
The Covid-19 crisis cost the car industry heavily last year, with new car registrations falling to 1.63 million last year, a decline of 29 per cent on 2019, with the bulk of the sales lost during the first lockdown last spring.
TOP NEWS: New Car Sales In UK Decline By Almost A Third In 2020
Wed, 6th Jan 2021 05:49
(Alliance News) - The number of new cars sold in the UK fell by almost a third last year amid the coronavirus crisis and uncertainty over Brexit, new figures are expected to show.
New car registrations are expected to be around 1.63 million for 2020, the lowest since 1992.
The figure would represent a fall of around 29% on 2019, the biggest year-on-year decline since 1943.
The Society of Motor Manufacturers & Traders is also set to announce on Wednesday that 2020 was a record year for sales of electric and plug-in hybrid cars, accounting for around one in 10 of all sales.