The UK’s specialist manufacturers, such as Aston Martin, Lotus and Rolls-Royce, are to get a large production boost, a new report has predicted.
The UK Specialist Car Manufacturing Report 2017 was published by the Society of Motor Manufacturers and Traders, and stated that the UK’s 36 low volume carmakers will produce 60 per cent more vehicles in 2020 than in 2016 if the current economic conditions stay the way they are.
Last year the UK made 32,000 specialist vehicles, which is up a quarter from 2012, and meant a turnover of £3.6bn. Employment in 2016 was also up, with 11,250 people in highly skilled roles in addition to thousands of other jobs in the supply chain.
But the SMMT projects that if the British economy can go the right way in terms of industry standards, regulations and stability post-Brexit, then the UK will be able to produce more than 52,000 specialist vehicles by 2020.
This sector is important to the UK economy as 65 per cent of the cars produced are exported to major markets in the EU, USA, Far East and Middle East, and many of the parts required to build these vehicles are made in the UK.
Manufacturers such as Aston Martin, McLaren and TVR are all building new plants to produce new models from 2019 onwards – meaning added specialist jobs and improved marketability.
Mike Hawes, SMMT chief executive, said: “Our specialist car manufacturing sector is one of the UK’s global success stories – making world-leading products and pioneering next generation technologies that benefit everyone.
“For this to continue we need certainty on Britain’s future trading relationships, including customs plans, market access, regulations governing the design, production and approval of vehicles, and rules around movement of skilled workers. This will provide the assurance the sector needs to remain competitive and make investment decisions that enable it to continue to develop innovative, exciting and desirable products that are the envy of the world.”