Industry Analysis & Industry Trends
The Motor Vehicle Manufacturing industry has endured a bumpy ride over the past five years. Consumer and business confidence plummeted during the economic downturn. As unemployment rose, households thought twice about buying cars, with many opting to repair their existing vehicles rather than replacing them altogether. Similarly, as business confidence fell, companies were reluctant to replace or expand their fleets. The government's scrappage scheme encouraged some new car sales, but it was not enough to offset the severe decline in demand. Export markets were also dismal as the financial crisis affected economies worldwide. Demand from the major export markets of the United States and Western Europe were especially affected... purchase to read more
Industry Report - Industry Analysis Chapter
Cars are an essential part of the daily life of most Britons. Despite this, the Motor Vehicle Manufacturing industry has endured a bumpy ride since the onset of the economic downturn. Industry revenue is forecast to grow at a subdued compound annual rate of 1.6% over the five years through 2013-14 to reach £43.9 billion. Although industry revenue has grown, car and commercial vehicle production has declined at a compound annual rate of 0.6% over the five years through December 2013, to just under 1.6 million vehicles.
Revenue in the Motor Vehicle Manufacturing industry is forecast to grow by a modest 1.8% in 2013-14. This is despite car production growing by 3.1% in 2013... purchase to read more