UK car manufacturing fell 6.7 percent in October to 150,060 units, leaving year-to-date volumes flat
20 Nov 2014 | 2957 Views | By Autocar Professional Bureau
UK car manufacturing fell 6.7 percent in October to 150,060 units, leaving year-to-date volumes flat (down 0.3%). Global economic uncertainty affecting demand, but outlook is still positive with all-time record production levels expected within the next few years.
According to The Society of Motor Manufacturers and Traders (SMMT), one ...
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UK car manufacturing fell 6.7 percent in October to 150,060 units, leaving year-to-date volumes flat (down 0.3%). Global economic uncertainty affecting demand, but outlook is still positive with all-time record production levels expected within the next few years.
According to The Society of Motor Manufacturers and Traders (SMMT), one of the largest and most influential trade associations in the UK which supports the interests of the UK automotive industry at home and abroad, around 80 percent of UK-built cars are exported, with the diverse product mix giving a 50/50 split between EU and non-EU exports.
"The UK’s car manufacturing industry is still in a strong position in spite of the growing uncertainty surrounding the global economy," said Mike Hawes, SMMT chief executive. "Billions of pounds have been invested into UK facilities in the past two years, with several new models starting production this year and more in the pipeline. There is still demand for UK-built products given their reputation for quality, design and engineering excellence."
The automotive industry is a vital part of the UK economy accounting for more than £64 billion turnover and £12 billion value added. With more than 160,000 people employed directly in manufacturing and in excess of 770,000 across the wider automotive industry, it accounts for 10 percent of total UK export of goods and invests £1.9 billion each year in automotive R&D. More than 30 manufacturers build in excess of 70 models of vehicle in the UK supported by around 2,500 component providers and some of the world's most skilled engineers.