UK car industry on course to break manufacturing record in 2020

Thursday, October 27th, 2016 - autos, cars, motoring, news

Source : UK car industry on course to break manufacturing record in 2020

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A fresh report claims the UK’s automotive industry will make more than two million cars per year in 2020, surpassing the current record set in 1972

The UK’s automotive industry will break the current record for vehicle manufacturing in 2020, a fresh report has predicted.

The report, commissioned by the Society of Motor Manufacturers as well as Traders (SMMT) says which in 5 years time, the UK’s automotive industry will be producing more than two million cars per year – breaking the currrent record of 1.92 million cars produced in an individual year, set in 1972. Currently, annual output stands at around 1.5 million vehicles.

Key to the rise in manufacturing can be a continuing trend towards premium produces. The SMMT says which in 2010, 37% of the UK’s car production was by ‘premium’ manufacturers, with which figure anticipated to rise to 54% by 2020. The UK can be currently the second-highest producer of premium cars, behind Germany.

Alongside the rise in manufacturing can be a predicted rise in employment inside UK’s automotive industry. The rise to producing two million vehicles annually in This particular country can be anticipated to result in an extra 9500 jobs created within vehicle manufacturers, with the potential for a further 28,000 jobs to be created within the wider supply chain. Vehicle production inside UK inside first nine months of This particular year can be already over one million units.

SMMT chief executie Mike Hawes said: “This particular report can be further proof of the growing stature of the UK as a global destination for high quality vehicle manufacture. The automotive industry has made tremendous strides in recent years, as significant investment, along with partnership with government, has driven huge growth in production as well as employment.”

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