SMMT: UK automotive industry booming

13th October 2011

The UK automotive sector is currently booming and is ripe for investment, according to the Society of Motor Manufacturers and Traders (SMMT).

Along with accountancy firm PricewaterhouseCoopers and the Low Carbon Vehicle Partnership, the SMMT headed a presentation about the opportunities in the UK car sector to the investment community and industry leaders.

It aimed to raise awareness of the growing opportunities in the sector presented by low carbon technologies and the expected growth of exports.

Paul Everitt, SMMT's chief executive, said: "The transition to a low carbon economy is a major opportunity for UK automotive companies whether it's in developing or building components, vehicles or infrastructure.

"Investors committing to the sector now will reap the rewards that automotive companies are already experiencing from growing export demand across new and emerging markets."

Over the past ten months, global firms committed in excess of £4 billion to the automotive industry to improve the production of car tyres and parts in the UK. 

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