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SMMT optimistic about 2023

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New data from the Society of Motor Manufacturers and Traders (SMMT) gives hope that the UK automotive sector will continue to get back on track in 2023.

In November, some 11,343 commercial vehicles rolled off production lines, a rise of 42.9%, while the production of cars was up 5.9% to reach 80,091 units. The production of commercial vehicles has continued to increase in every month of 2022 for which data is available, while for the last seven months, car production has grown in six of them.

Car production remains below the levels seen before the COVID-19 pandemic, but SMMT CEO Mike Hawes believes that the consistent growth seen recently means the industry may be able to return to its previous form in 2023. Nevertheless, Hawes also believes measures are necessary to help the UK compete as an attractive destination for investment, trade and production, such as by reforming business rates, alleviating high energy costs, and accelerating the development of the country’s charging infrastructure.

In a CEO update, Hawes also pointed out the UK’s strengths:

“UK Automotive has strong foundations on which to build: we have world class expertise in vehicle manufacturing, thanks to a productive workforce, globally renowned brands and some of the brightest R&D minds anywhere. We are traditionally a strong and dynamic new vehicle market that embraces new technologies…”

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