SMMT - UK Auto makes one million vehicles and welcomes £23.7 billion investment boost
LONDON, Jan. 25, 2024 /PRNewswire/ -- UK vehicle production hit 1,025,474 units in 2023, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). With 905,117 cars and 120,357 commercial vehicles (CVs) produced, output was up 17.0% on the previous year. The easing of pandemic-related challenges, from chip shortages to lockdowns, and increasing electrified model production, combined to drive annual output above one million for the first time since 2019.[1]
- LONDON, Jan. 25, 2024 /PRNewswire/ -- UK vehicle production hit 1,025,474 units in 2023, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).
- With 905,117 cars and 120,357 commercial vehicles (CVs) produced, output was up 17.0% on the previous year.
- Mike Hawes, SMMT Chief Executive, said, "Receding supply chain challenges, new model introductions and a massive £23.7 billion of investment put UK vehicle production firmly back on track in 2023.
- [3]: SMMT calculations based on publicly announced investment commitments, public and private, in UK automotive production and R&D 2023 from brands including but not limited to: MINI, JLR, Tata and Nissan.