UK automotive industry generates record-breaking £60billion turnover

Tuesday, July 2, 2013 - 08:00
Comments off

BUMPER: UK auto industry is booming

The UK automotive industry is accelerating economic growth and environmental performance after posting a whopping, record-high £60billion turnover in 2012.

Last year, production volumes climbed 8% and export volumes broke all-time records, as the automotive industry attracted big investment.

Automotive R&D expenditure grew 9% to £1.7billion, with jobs in automotive manufacturing rising 2% to 146,000.

Pleasingly, manufacturing CO2 emissions, energy use and waste to landfill per vehicle produced each declined, 3%, 5% and 8% respectively.

The findings, outlined in the 14th Automotive Sustainability Report published today by the Society of Motor Manufacturers and Traders (SMMT), demonstrate the progress of the industry.

Marked growth is being made against a series of economic, environmental and social performance indicators.

Mike Baunton, Interim Chief Executive of the SMMT, said: “UK automotive continues to support the country’s economic recovery, with rising turnover, increased manufacturing output and record export volumes providing further proof of industry’s ability to compete on a global scale.

“It is clear that our future is bright and that the environmentally-focussed approach that vehicle manufacturers have taken to improve manufacturing processes and products will support our continued economic success.

“However to capitalise on the sector’s potential it is vital that government uses its upcoming Automotive Sector Strategy to commit to measures that will strengthen the automotive supply chain and drive further R&D activity.”

The latest Automotive Sustainability Report is more in-depth than ever before, for the first time including wide-ranging analysis of the UK’s expanding automotive supply chain.

For every vehicle that is produced, more than 800,000 separate components and sub-components are needed.

This makes ensuring UK suppliers can access that demand fundamental to the future prosperity of the whole industry.

Attracting new talent and developing long-term training plans for current staff is at the heart of the UK motor industry’s future plans, said the SMMT.

They added that through the SMMT and the Automotive Council, the industry is working hard to address skills gaps throughout the sector.

This aims to maintain the UK’s global competitiveness, particularly in roles that support new technology development.

To access SMMT’s 14th Automotive Sustainability Report, click here.

Image courtesy of Ben Sutherland, with thanks.

Comments are closed.