As 2011 comes to a close the British motor industry is in a good position and will go from strength to strength in 2012, according to a report by industry leaders.
That was the summing up of Paul Everitt the Chief Executive of the Society of Motor Manufacturers and Traders (SMMT) when he addressed the press earlier this week. He was upbeat about the industry’s future and pointed to the massive levels of investment poured into the UK motor industry by foreign investors in 2011.
Projects totalling over £4 billion were rolled out in the UK last year, ranging from investment in green initiatives to the promotion of all electric cars, from low carbon engineering advancement to brand new models with state of the art safety features. The Chief Executive praised the Government for its subsidy on zero emission vehicles which has allowed motorists to compare cheap car insurance on models that otherwise may have been beyond their monetary limit, and expressed hope the subsidy may continue.
Of course the investment in the UK motor industry doesn’t stop at the manufacturers gates, allied industries benefit tremendously from such investment and Mr Everitt was quick to recognise the fact. He said: “2011 has been a very significant year for the UK motor industry. We have seen a remarkable series of investment announcements by global vehicle manufacturers with a total of £4 billion of investment promised for the UK, securing new model programmes, production facilities and jobs. Despite the uncertainty within the Euro zone, these decisions demonstrate real confidence in the future of UK manufacturing and its role within a rebalanced economy.
It seems likely that 2011 car sales will be 5% up on 2010 and considering the traumatic year industry and finance has endured, the motor trade will be happy with that.