Specialist market valued at £4bn
A new report has found that the UK’s low volume and specialist vehicle manufacturing sector is the most diverse in the world.
The SMMT’s Low Volume and Specialist Vehicle Manufacturers Report outlines how Britain is a world leader in producing low volume, high value vehicles, everything from 250mph hypercars to campervans, limousines to electric taxis, motorhomes, wheelchair accessible vehicles, hearses and an unrivalled range of high performance, sports and luxury models.
All told, this vibrant sector turned over some £4bn last year, employing more than 15,000 people in highly-skilled, well paid roles to produce over 28,000 cutting-edge products, even amid a global pandemic.
Together, the UK’s low volume and specialist manufacturers sustain a significant nationwide supply chain supporting many more thousands of jobs. A significant percentage of the parts and components that go into vehicles made by the sector are sourced locally, and the value added by some conversion companies can be more than £15,000 on a single vehicle.
Mike Hawes, SMMT chief executive, said: “The UK has a world-class automotive sector and the many low volume and specialist manufacturers are among its most valuable assets. The industry is at a critical moment as companies transition at pace to a zero-emission future and we must protect and preserve the diverse nature of these businesses who add to the lustre of the UK industry.
“Fundamental to the competitiveness of the sector is the need to ensure any regulation is appropriate and reflects the unique circumstances of these low volume, high value manufacturers. This is particularly important as we negotiate new trade terms with key overseas markets, many of whom would look on enviously at our strengths in this sector. Furthermore, given the technological transition underway, these companies, like the rest of the industry, need specific support for workforce retraining and reskilling to ensure they are fit for the future.”
