UK automotive sector aims to break production records
12 June 2012
Posted by Michelle Devonshire
The automotive industry in the UK has unveiled ambitious plans to break records when it comes to output.
Despite tough economic conditions, the sector has performed strongly over the past year and the Society of Motor Manufacturers and Traders (SMMT) has declared further gains are possible.
According to the organization, vehicle manufacturers have "set their sights on breaking all-time manufacturing records by the end of 2015".
The trade body pointed to over £5.5 billion pound in investments that have been made over the last 18 months to increase output, employment of thousands of new workers and the launch of new models in the UK as evidence of expansion.
Projections from the SMMT now indicate the industry could surpass the 1.92 million cars manufactured in Britain during 1972, which is the highest number in a single year to date.
More than two million vehicles are expected to be built in 2015, an increase of over 50 per cent compared with the 1.3 million units produced in 2011.
"The UK automotive industry is leading economic recovery with increased manufacturing output, growing export volumes and new jobs being created on the back of major international investment in the sector," declared SMMT Chief Executive, Paul Everitt, adding the skills, workforce flexibility, Government support and heritage of the UK sector make it a world leader.
He stressed the importance of a continuing partnership between the Government and the industry, although the SMMT pointed out its forecasts are reliant upon both this and on the eurozone stabilizing by 2015.
Car manufacturing in the UK has climbed by 11.8 per cent over the first four months of 2012 compared with the same period of last year. The country is home to seven volume manufacturers in the sector, three volume commercial vehicle firms and 11 bus and coach makers.
The new car market in May climbed by 7.9 per cent to 162,288 units, the largest percentage climb in sales in 23 months, as private demand jumped by 14.3 per cent.