SMMT congratulates the UK automotive industry for its defiance of the double-dip recession.
The automotive trade body SMMT yesterday congratulated its members and the UK automotive industry for it achievements in 2012.
SMMT reiterated an announcement that the UK is now Europe’s second largest car market and highlighted that 4,000 new cars now roll off UK assembly lines every day.
Other figures released by SMMT told that UK automotive manufacturing now provides employment for over 700,000 people in Britain – including jobs at around 40 global companies. The sector now turns over £55bn.
Paul Everitt, the outgoing CEO of SMMT said: “The UK has out-performed our European partners during 2012 with vehicle manufacturing and new car registrations rising strongly through the year.”
Mr Everitt observed the while most EU markets have been impacted by eurozone instability, the UK has benefited from £6 billion of new investment from global vehicle manufacturers in the past two years.
Everitt predicted the car production in the UK will break all-time records in the next few years and identified a growing market for new fuel-efficient technologies as a driver for new car sales.
SMMT has also identified demand for new safety features in vehicles which it says will push the boundaries of technology and engineering in order to fulfil customer expectations.
UK Automotive Manufacturing Statistics
- The UK is home to:
o Seven volume car manufacturers.
o Eight commercial vehicle manufacturers.
o 11 bus and coach manufacturers.
o More than 10 major premium and sports vehicle manufacturers.
o The greatest concentration of specialist niche brands anywhere in the world.
o Eight Formula One teams.
- Over one million vehicles and two million engines are produced in the UK each year.
- UK car manufacturing is set to break all time records by 2015 producing more than two million cars (surpassing the previous high 1.92m of 1972).
- More than 80% of vehicles and 60% of engines manufactured in the UK are exported.
- At present, about 80% of all component types required for vehicle assembly operations can be sourced from UK suppliers.
- This year, the Automotive Council identified more than £3bn worth of opportunities for domestic suppliers, naming key components that vehicle manufacturers are looking to source in the UK.
- The UK automotive supply chain typically generates £4.8bn of added value annually to the UK economy.
- There are around 2,350 UK companies that regard themselves as ‘automotive’ suppliers, employing 82,000 people.
- It is estimated that every job in UK vehicle assembly supports 7.5 elsewhere in the economy.
- Of all UK suppliers, more than 70% manufacture their products in the UK.