UK Automotive industry remains a global export powerhouse

SMMT points to bright future no matter what the budget may hold

UK Automotive industry remains a global export powerhouse

Mike Hawes , SMMT Chief Executive has come out to praise the UK automotive industry as it continues to be a significant contributor to the nation’s economy, maintaining its position as the country’s largest goods exporter.

Despite recent declines in production due to model changeovers and plant retooling for electric vehicle production, the sector remains a vital force.

The value of UK automotive exports has remained consistently high, driven by the increasing production of premium electrified models. This trend underscores the UK’s potential for future growth in the automotive industry.

Mike goes on to say that to further strengthen its position, the UK government must prioritise investment in electrification and battery manufacturing. The upcoming Autumn Budget and Industrial Strategy present opportunities to secure additional funding and support for the sector. Key priorities include:

  • Increased access to affordable green energy
  • Improved trade agreements with major and emerging markets
  • Investment in skills development to support the transition to electric vehicles

Additionally, the government should implement measures to stimulate the uptake of electric vehicles in the domestic market, such as halving VAT on new EV purchases and expanding public charging infrastructure.

Mike says that by taking these steps, the UK can solidify its position as a global leader in the automotive industry and contribute to a sustainable future.

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