SMMT Warning After Car Production Reaches 16-Year High
Future Growth Uncertain
Despite a 16 year high for car production in the UK, the Society Motor Manufactures and Traders has said future growth is uncertain due to Brexit.
Best Half Since 2000
According to figures released by the SMMT, it’s the Uk’s best first half year performance in 16 years, producing 897,157 cars - which is 13% more than the same period in 2015.
The UK automotive production is export-led with 77.8% of cars built in the UK, with the majority of that figure going to the EU. A survey conducted by the SMMT of its members showed that 57.1% that responded revealed significant concern towards the outcome of Brexit.
Chief Executive Says
Mike Hawes, Chief Executive of the SMMT, said, “UK Automotive is globally competitive with overseas demand for British made products increasing, not least in Europe which is by far our largest market. The latest increase in production output, however, is the result of investment decisions made over a number of years, well before the referendum was even a prospect. These decisions were based on many factors but, primarily, on tariff-free access to the single market, economic stability and record levels of productivity from a highly skilled workforce. To ensure the sector’s continued growth, and with it the thousands of jobs it supports, these must be priorities in future negotiations.”