Motoring industry at the forefront of manufacturing recovery

Motoring industry at the forefront of manufacturing recovery 4th September 2015

The UK's manufacturing sector has been given a boost in the last few years as the economy has continued to recover, and the motoring industry has been at the forefront of this, with car manufacturers leading the way. 

The industry for the production of new cars has been growing at a rate of some 3.1 per cent on average every three months since the end of the economic crash, meaning it has far outpaced any other area of the sector. 

Overall, the manufacturing sector has increased at a rate of 0.3 per cent every three months since the crash, and this shows just how far ahead of other areas of production car makers are at the current time.

The Office for National Statistics was looking at figures across every year since the crash happened, and found that 2013 was the moment at which the sector really begun to gather pace, with a record number of cars being manufactured in the final quarter of the year. 

Car manufacturers surpassed their pre-recession peak at this point, almost two years ago, while manufacturing as a whole has yet to even reach its previous record even now, indicating just how far ahead car production firms are at the current time. 

The official figures show that the main driver to this health in the car manufacturing sector has been the fact that British people have been giving their backing to British cars. In the last few years, the number of registrations has increased for 41 consecutive months. 

This meant that in 2015, the number of registrations of new cars has surpassed 1.5 million, a new record in the UK. The Office for National Statistics said that motor manufacturers are now only third to food manufacturing and metal component production when it comes to the £12 billion it annually contributes to Britain's economy.

In total, despite only having six per cent of all employees in the manufacturing sector, the car industry accounts for 12 per cent of the sector's overall contribution to the economy, showing just how strong it is at the current time. 

Posted by Danielle Barge