August 14, 2014
The Society of Motor Manufacturers and Traders expects just under 1.6m cars to roll off UK car industry production lines in 2014. In July, UK car manufacturing output rose by 2.8%, taking the total for 2014 so far to 923,884. This is up by 3.4% compared with the same period last year.
David Bailey, professor of industrial strategy at Aston Business School in Birmingham, attributed this to “exchange rate depreciation, world-class manufacturing, excellent industrial relations, the government’s industrial strategy as well as the swelling middle classes in emerging economies such as China”.
A separate survey from the British Chambers of Commerce (BCC) and the courier firm DHL Express found that UK exporters are overwhelmingly optimistic about business prospects for the next 12 months.
The government has pledged support to the automotive industry, as it seeks to rebalance the economy towards manufacturing and exports. In 2012 George Osborne set a target of doubling UK exports by 2020. Expansion on this scale will make skilled, well-trained automotive workers vital, and provide fantastic opportunities for the UK’s young people.
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