classic-car-news

Classic Car news

British Automotive Supply Chain Enjoying A Renaissance Thanks To Government Programme

british-automotive-renaissance.jpg

Brexit may have placed a lot of uncertainty on the car industry, but there are certain businesses that have been able to thrive. British companies that make car parts have earned £41 million in extra private investment over the last four years, due to a £13 million government stimulus scheme. This data was recorded by the Society of Motor Manufacturers and Traders (SMMT). 

The Long Term Automotive Supply Chain Competitiveness programme aided 27 British suppliers in competing on a global scale. Managed by the SMMT for the Department of Business Energy and Industrial Strategy, the programme ran from 2014 to 2017.

Key statistics were captured by a Production Engineering Solution report. Based on the ‘renaissance’ in the industry, the production of British made cars has increased to 44%, up from 2011’s 36%. 

Business Secretary Greg Clark is confident in the ongoing success of the car industry. “The UK’s automotive industry is one of our biggest success stories that continues to attract significant investment from leading manufacturers. The Long Term Automotive Supply Chain Competitiveness programme has proven the value of our support and investment in the sector and helped power us towards our goal of increasing UK content in domestically produced vehicles to 50% by 2022.”

The firms that took part in the programme were able to improve their research and development skills. This increased turnover growth and stimulated new markets. As a result, 3200 jobs were created and safeguarded. 

SMMT Chief Executive, Mike Hawes gave his opinion. “Supporting employment and investment into the supply chain is critical to the future health of automotive manufacturing in the UK. The LTASC programme shows how a relatively modest initial government investment can leverage considerable industry backing, delivering huge long-term benefits. It’s a fantastic example of collaboration between public and private sectors creating and safeguarding thousands of jobs in this globally competitive industry.” 

Classic Car News, Inside Classics

You also may be
interested in...

Classic Car News

Can you drive a motorhome on a car licence?

Before you take the plunge and buy a motorhome, it’s probably worth checking if you’re actually eligible to drive one on your current driving licence.  For the most part, the year you passed your driving test determines whether or not you’re legally...

Read more Classic Car News, Inside Classics

Keep up to date with our news & blogs

Bike News

Honda unveil their 2022 CB300R

Honda’s updated CB300R fills the gap between the CB125R and CB650R in their Neo Sports Café family.

Read more
Bike News

BMW Motorrad celebrates record sales in 2021

Even with a global pandemic, BMW Motorrad have had their very best year to date.

Read more
Bike News

Dakar 2022 overview: Sam Sunderland takes the crown

The Brit has won the world’s toughest bike race for the second time, after almost 40 hours of riding and 12 gruelling stages.

Read more

Have some questions? Check out our tips & guides pages for some great information

Motorbike tips

Top five tips for commuting on a motorcycle in winter

Should you put your bike into hibernation for the colder months, or brave the weather and continue to commute to work?

Read more Biking Tips, Inside Bikes
Motorbike tips

Top five all-rounders for 2022

These practical machines look capable of doing a bit of everything for the savvy buyer. It’s a concept we totally buy in to, and these five are definitely worth a look.

Read more Biking Tips, Inside Bikes
Motorbike tips

Five top winter commuters for under £2000

Given a theoretical budget of £2000 we hit the internet to find five bikes we’d love to ride around over the winter months, and maybe even in the summer months too!

Read more Biking Tips, Inside Bikes