UK Automotive Industry Likely To Take Europe Out Of The Recession

 

Although Europe continues to face a harsh economic slump, valid news confirm that the UK automotive industry is more than doing its fair share to defy this threatening reality. With household demands decreasing, factories of various niches are forced to slow their production rate and reduce their staff which can in turn drastically add to the slump. However the figures received from the UK automotive industry are quite reassuring according to the sell my car website dealerbid.co.uk; in fact the sales numbers reveal that the automotive industry of UK is becoming Europe’s leading car industry.

The UK automotive industry has considerably increased its automobile production since last year, bringing in almost £55bn in revenue. More than 40 international car manufacturing companies have based their plants in Britain. Such a huge number of manufacturing units also cater for the growing number of employment options for the Britons.

The data received from the Society for Motor Manufacturers and Traders (SMMT), shows that over 120,000 cars were produced in July alone this year which is a rise of 22% as compared to the figures of July from last year. It is interesting to note that much of the growth seen in that month was a direct result of trying to keep up with massive demands of Jaguar Land Rover from Asia.

The automotive industry of UK remains at the forefront for the government as it is a major export sector as well. Almost 80% of the total vehicles produced are meant to be exported out of the country. However this does not mean that new car market has slumped within UK, sales records confirm that citizens of UK have become automobile savvy and a growing trend of downsizing to a more fuel efficient and high performing vehicle is seen.

The automotive industry in UK is responsible for introducing various types of vehicles to its market. The massive growth in production and the fierce competition between the leading car brands has forced the industry to produce vehicles of ranging size and types which are loaded with luxurious accessories and which are marketed with incentive-focused campaigns.

With a more greener, cost-effective, fuel-efficient and luxurious choices available in the market, thousands of car owners have gone for a vehicle makeover. The competitive car financing schemes in UK have also aided vastly in the purchase of new cars leading to increased car production. The increased demand within the country and from abroad have together boosted the growth of automobile production in UK and this is going to become the reason for improving economy.