November 15, 2012: The UK automotive industry has reported improved numbers for October 2012. Car manufacturing rose 6.5 percent during the month and was up 9.7 percent over the year-to-date. Commercial vehicle output rose 5.0 percent in October, but remained down 6.1 percent over the first 10 months of 2012. UK engine production was up 1.2 percent, with output over the year-to-date down 0.2 percent.
"The UK automotive industry got back on track in October with vehicle manufacturing up 6.4 percent and a 1.2 percent increase in engine output," said Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders (SMMT). "Sustained, high-value investment in R&D, facilities and new products is paving the way to a prosperous future for UK automotive, but there remain significant challenges as European market demand remains weak. It is essential government continues to focus on boosting economic growth and enhancing UK competitiveness."
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad. The automotive industry is a vital part of the UK economy accounting for £55 billion (Rs 4,79,050 crore) turnover and £12 billion (Rs 1,04,520 crore) value added. With more than 700,000 jobs dependent on the industry, it accounts for 10 percent of total exports and invests £1.3 billion (Rs 11,323 crore) each year in automotive R&D.