The turnover of the UK car manufacturing industry rose by 12 per cent in 2011, it was announced this week. These levels are set to be beaten further in the coming years with record figures expected to be reached by 2015 according to experts.
According to the Society of Motor Manufacturers and Traders (SMMT), the turnover for last year reached £55 billion, with combined car and commercial vehicle production reaching 1.46 million vehicles – a 5.1 per cent increase on the 2010 total.
The SMMT also highlighted additional independent forecasts that have predicted that this vehicle production figure could explode to an all-time high of more than two million vehicles by 2015.
Not only would this be a fantastic landmark for the UK automotive industry it would also provide a significant shot in the arm to the national economy. Vehicles built for export increased by 14 per cent last year and represented over four-fifths (81.6 per cent) of the total manufacturing output.
Another encouraging figure is that CO2 emissions from the nation’s car manufacturing were also greatly reduced by more than 13 per cent per vehicle produced in 2011.
Paul Everitt, chief executive of the SMMT, said: "The automotive industry is continuing to lead the country’s economic recovery, increasing manufacturing output, delivering record turnover and exporting a greater proportion of cars than ever before, all while reducing our environmental footprint.
"In a tough economic climate, the automotive sector has continued to perform above expectations, demonstrating the significant role it has to play in a rebalanced economy.
"Our industry is at the forefront of the drive to a low-carbon economy attracting investment in the research, development and manufacture of low and ultra-low carbon technologies, creating new jobs and growth opportunities throughout the supply chain and introducing attractive products that are reducing transport emissions as well."
Despite the increase in new vehicle output in the UK the used car market continues to enjoy value growth with the average value of a used car in Q1 2012 totalling £6,114 according to the BCA’s Quarterly Pulse Report.
At ASM Auto Recycling we certainly see the value in the used car market with our online salvage auction providing savvy motorists with the opportunity to source damaged-repairable vehicles at bargain basement prices. We also proudly supply refurbished used car parts offering an additional cost-effective solution to vehicle repair and restoration.