The motor trade industry has received a major boost as the UK\’s car production has reached its highest level since the start of the economic recession. Revealing sales figures from last year, the Society of Motor Manufacturers and Traders (SMMT) annual review has confirmed that 2,264,737 cars were registered in 2013 the highest number since the financial collapse in 2007.
This is sure to please both car dealerships and garages as higher levels of consumer confidence and trade look set to come their way. With business growing, now could be a good time to look at motor trade insurance quotes online in preparation for the predicted increase in business.
The research stated that car production in the UK rose by 3.1 per cent in 2013 compared to the year before. With 1.5 million units produced last year, analysts have predicted that the industry will go on to reach a record production level of over two million units by 2017.
These findings have been followed up by another report from the same organisation, which outlined the UK\’s January 2014 car output, with the results again proving positive. Although the robustâ€ performance in January of this year was actually down 0.3 per cent on 2013\’s figures, experts expect that the year\’s overall figures will surpass last year\’s, as new models are introduced to the market.
Mike Hawes, SMMT\’s chief executive, commented: 2013 demonstrated the value of the UK\’s diverse car manufacturing industry, as surging home demand and robust exports outside Europe saw output grow 3.1 per cent to over 1.5 million units.â€
Reflecting on the most recent findings Hawes added: UK car manufacturing made a solid start to 2014, matching the strength of January last year … Looking further ahead, we anticipate further growth as investments by some of the world\’s biggest automotive brands become reality, creating more jobs and huge opportunities for UK-based suppliers.â€
Although there is some way to go, the findings that have come to light over recent weeks indicate that the economic downturn may finally be coming to an end for the industry.
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