Specialist car manufacturers to enjoy production boost

Low-volume specialist car manufacturers are set to get a 60 per cent production boost by 2020, a new report has found.

Analysis by the Society of Motor Manufacturers and Traders (SMMT) predicts that, if current economic conditions remain the same, the UK’s 36 low-volume car manufacturers will create 52,000 a year by 2020.

Specialist manufacturers in the report produce around 10,000 vehicles a year globally, and include companies such as Aston Martin and the newly-reformed TVR. The sector remains an important part of the industry, with 65 per cent of all cars created exported to the EU, USA, Far East and Middle East.

Figures show that in 2016, these manufacturers returned a collective turnover of £3.6 billion – an increase of 52 per cent on 2012’s figure. They also employed 11,250 people, in addition to supporting thousands of additional jobs throughout the supply chain.

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.”