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UK production output buoyed by new model introductions

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UK production output buoyed by new model introductions

According to the country’s automotive industry body, the car production in Great Britain increased 3% over the first half of the year, supported by the introduction of new models.

The Society of Motor Manufacturers and Traders (SMMT), said that in June alone car output was up 3.7% to more than 136,000 units, with the total number of cars built in UK’s car plants growing 3.5% to 790,000 autos. Most of the produced cars are for export, as many automakers have selected Great Britain as one of their main European hub.

“With this growth comes a need to bolster the domestic supply chain and address major skills shortages, both of which the UK industry is committed to addressing,” said Mike Hawes, chief executive of the SMMT.

Hawes said that local production of cars is only 30% supported by the British made parts, with the government and industry predicting parts worth around 3 billion pounds ($5 billion) could be locally made in the near future. The UK automotive industry produced 1.5 million cars last year, on par with levels from before the 2008-2009 financial crisis, and is on its way to exceed the all-time record of 1.92 million units somewhere by 2017.

Via Reuters

by Aurel Niculescu (my Google+) - Thursday, July 24th, 2014 - filed under Industry, News. Image credit: .
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