UK automotive sector defies 2012 recession with rising sales and investments reports SMMT
Thu 20 December 2012
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The Society of Motor Manufacturers and Traders (SMMT) reports that while the UK economy went through a double-dip recession in 2012, the UK automotive sector performed strongly, producing 10% more vehicles than in 2011, becoming Europe's second largest new car market.
The UK automotive sector has an annual turnover of around £55bn and more than 40 global companies base their operations here, employing more than 700,000 people.
The SMMT says that it’s clear that fuel efficiency and new types of vehicle have attracted buyers into dealerships. As average emissions of a new car have fallen more than 3.5% in the last year, the mini and supermini segments have shown the greatest growth in recent years (increasing market share by 6.6% in the last five years).
Paul Everitt, SMMT Chief Executive said: “While most EU markets have been impacted by eurozone instability, the UK has benefited from £6 billion of new investment from global vehicle manufacturers during the past two years, with car production set to break all-time records in the years ahead.”
The SMMT reports that rise of fuel-efficient models has been a notable trend across all vehicle segments. The Society says that more electric and hybrid models will come to the car market in 2013.
The SMMT provides details of the significant investments made in the UK automotive sector during 2011 and 2012 on its website. For more information follow this link.
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