The Society of Motor Trade Manufacturers and Traders SMMT has just launched results figures for the car manufacturing industry for 2013 and highlights positive predictions for the industry moving forward.
Mike Hawes, SMMT Chief Executive, said, “2013 demonstrated the value of the UK’s diverse car manufacturing industry, as surging home demand and robust exports outside Europe saw output grow 3.1% to over 1.5 million units. UK automotive investment announcements exceeded £2.5 billion in 2013, reinforcing industry analysts’ suggestions that the UK could break all-time car output records within the next four years.”
· Car production rose 3.1% in 2013 to surpass 1.5 million units – highest volume since 2007.
· Industry analysts predict output to reach record levels of around two million units by 2017.
· UK could become the third largest car manufacturer in Europe. Continue reading full article