UK Net Importer : 2023

The once mighty UK car industry is but a shadow of its former self. It still exists despite being undermined by substandard management, a militant workforce and public apathy. 

905,000 passenger cars were made in 2023, the best figure in three years. That's just under half the number of cars sold in the UK, the lowest figure ever. Yet 2024 will be worse still. 

Four brands support over 90% of the volume, Nissan, Land Rover, MINI and Toyota. The chart shows production, sales and extrapolates an export figure from that. 

When did the rot set in? During the first half of the 1970's, the UK was a net exporter. Back then, BL was still a large manufacturer, supported by Ford, Chrysler (Hillman) and Vauxhall. They have all since departed the scene. 

On that basis, it's a surprise an industry still exists. If it disappeared I don't know if anyone would notice...or care. Perhaps Sunderland would notice. The car below is the only one made in Wales and I believe the only one ever made in the Principality.

Fisker Deliveries/Production : 2023/2024 Q1

Fisker Automotive folded in 2014 after just approximately 2,000 Fisker Karma cars were sold. The marque was reborn when the California based Fisker Inc created the Ocean electric SUV model to be made at the Magna Styr plant in Austria. 

In late 2022 it was stated that the company had more than 63,000 orders for the vehicle. 300 cars were expected to be made in Q1 2023, going up to 8,000 (Q2), 15,000 (Q3) and 19,000 (Q4). 

It all sounded promising but what was the reality? Fisker released the figures for what actually unfolded as seen below. The 10,536 units produced in 2023 was reached from quarterly figures provided, which was slightly higher than the 10,193 that was the full year number given once the year concluded. 

Regardless, that was still over double the number produced compared to what was delivered for 2023. Clearly there was a disparity in what was planned as opposed to what transpired. A partner was sought from an existing major car making company. 

Production was halted after the first quarter of 2024 without a partner being secured. Magna Steyr is not expecting to make more vehicles. The 2024 figures vary slightly by source so I've estimated them - as seen on the right - but they should be close to accurate if not fully so. One thing is certain and that is thousands of cars are unsold. Fisker has filed for Chapter 11 bankruptcy protection.

It's not an unusual scenario that a start up company has high expectations but fails to deliver on them. Investors risk a great deal but in such a situation will almost certainly fail to get back what they outlayed.