KPMG says today’s figures from the SMMT showing UK vehicle output figures rising substantially are evidence that production remains resilient as the industry bucks an overall trend.
“The SMMT production figures announced today rose 10.7% in August, up 4.4% over the first eight months of 2011,” said KMPG automotive practice partner John Leech. “These are particularly strong figures and underline the continued resilience of the UK automotive industry.
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“Interestingly, as many business leaders worry about the risk of slowing UK and European growth, automotive manufacturers are worrying about how to meet significant export demand from developing economies.”Our recent manufacturing survey has shown optimism is not dead – large global manufacturers are setting their sights on top-line growth over the next two years, primarily focusing on new products, strategic acquisitions and alliances, innovation and increasing production capacity in high-growth markets.
“This is good news for UK manufacturers. However, recent long-term investment announcements from JLR, BMW and others mean there is a growing shortage of trained engineers in the UK.”
