8:06 am, June 12, 2012
UK automotive manufacturers have set their sights on breaking all-time manufacturing records by the end of 2015.
According to figures announced ahead of today’s SMMT International Automotive Summit, the UK could surpass the 1972 record of 1.92m cars produced, with more than two million units rolling off domestic manufacturing lines in 2015.
However the landmark relies on eurozone stability and ongoing government support and collaboration, sats the SMMT.
Achieving annual car manufacturing volumes in excess of two million units would equate to an increase in manufacturing output of more than 50 per cent over 2011’s level of 1.3m units.
‘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. Our engineering expertise, workforce flexibility and renowned motoring heritage, combined with top level collaboration between industry and government, makes the UK an important location for the global automotive industry,’ said Paul Everitt, SMMT’s chief executive.
‘The UK has attracted unprecedented levels of new investment and has a tremendous opportunity to see vehicle manufacturing rise to record levels in the years ahead. To remain globally competitive it is essential that industry and government continue to work in partnership and that key eurozone markets return to sustainable levels of economic growth.’
The SMMT says to a certain extent, the UK is insulated from the worst of demand fluctuations as it exports 40 per cent of its products to countries outside Europe. However, it is clear that the ongoing stability and success of UK automotive is linked closely to demand from the continent.
