Calls for urgent government action have been made to stop the “spiralling” cost of energy within the automotive manufacturing sector, suggesting thousands of jobs could be cut.
The Society of Motor Manufacturers and Traders (SMMT) said costs within the sector have risen by almost 50% this year alone - an uplift of £90 million. This is equivalent to 2500 jobs.
This, its data shows, is made worse when compared with energy prices across the rest of Europe, the UK paying on average 59% more.
The cost of energy has shot up due to less supply and more demand on the global wholesale market.
