UK car manufacturing continues upward trajectory
In January, the Society of Motor Manufacturers and Traders showed 16-month high figures in car manufacturing, and its February numbers support the view of KPMG automotive partner, John Leech that production will “strengthen in 2012”. Year on year figures show that manufacturing rose 23.5 per cent in February, making the year to date 19.6 per cent above the same two months in 2011. Commercial vehicle output meanwhile fell slightly by 2.7 per cent, down 2.0 per cent over the first two months of the year.
“Car manufacturing rose 23.5 per cent in February maintaining the trend of strong export-led growth and confirming the importance of manufacturing to a rebalanced and prosperous economy,” said Paul Everitt, SMMT chief executive. “The UK automotive sector continues to attract investment and generate new jobs. Despite recent success there can be no complacency and it is essential the Chancellor uses next week’s Budget to deliver on its growth strategy and boost the UK’s competitiveness by encouraging private sector investment in R&D, capital equipment and skills.”
UK engine production increased by 3.6 per cent in February and 4.3 per cent over the year-to-date.