UK manufacturing reaches 10 year high
UK vehicle manufacturing has reached a 10 year high according to figures released by the Society of Motor Manufacturers and Traders (SMMT). Figures show a growth of 3.9% bringing the total amount of vehicles manufactured in the UK throughout 2015 to an impressive 1,587,677 vehicles. This record breaking figure shows a 2.7% increase on 2014 and highlights an upward trend in UK automotive production.
The figures showed an ever increasing demand for the export of UK manufactured vehicles with 77.3% of British built cars in 2015 being exported. It was found that the largest demand for British built cars outside of Europe is in the US with an increase in demand of 26.5%. These promising figures affirms the UK’s place as a centre of excellence for manufacturing, and the strength of the UK automotive industry.
There is also good news in Europe, who retained their title as the UK’s biggest trading partner. After the economic recovery in Europe the demand for UK manufactured vehicles surged by 11.3% in 2015. This means that the region is now accountable for 57.5% of all UK vehicle exports.
These announcements come in a month of good news for the UK automotive industry after the announcement that £74M would be co-invested in five low carbon technology projects through the Advanced Propulsion Centre.
With the demand for UK manufactured vehicles increasing around the world, and record breaking manufacturing figures year after year, now is the time for technology innovators to make their mark on the UK automotive industry and exploit the opportunities in the British built vehicle market.