As strong domestic and overseas demand for British-built cars continue to revitalize the country’s automotive industry, UK car production tops 1.5 million for the first time since 2008.
In September, rolling 12-month output topped 1.5 million cars for the first time since October 2008, boosted by sales at home in Europe’s only growing market and surging exports to emerging markets such as China and Russia by the likes of Jaguar Land Rover and Nissan.
Justa around a decade ago, the British car industry was almost written of as inefficient, under funded and uncompetitive – but just like the Phoenix bird in the story, the car industry has gone through a remarkable renaissance in recent years, mainly because of its focus on high-end, high-margin products targeted at faster-growing overseas markets.
“September’s 9.9 % rise in car manufacturing reinforces how the sector is one of the UK’s biggest success stories of recent years,” said Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT).
In a boost to the government’s hopes of rebalancing the economy more towards manufacturing, more than £2.6 billion has been ploughed into the British automotive industry so far this year, as foreign-owned manufacturers such as JLR and Bentley increase investment in factories and the wider supply chain.
And Nissan, which has made the UK its European manufacturing hub, announced this month that its Sunderland plant – the country’s largest by output – would move to 24 hour production for the first time.
Via Financial Times
) - Friday, October 25th, 2013 - filed under Industry
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