SMMT production statistics: comment

“Production figures may be down, but much of this can be attributed to the fact that factories are retooling to build the electric vehicles of the future. The new electric Nissan Leaf has already started to roll off the production lines in Sunderland, while a number of new electric Jaguars and Land Rovers are set to enter production in the West Midlands later this year. 

“Reports are coming in from around the world of a surge in interest in electric vehicles as people try and end their vulnerability to oil prices that are rising as a result of events over which they have no control. [2] [3] [4] This simply confirms what we already knew - that the world is moving to EVs. The future of our car industry rests on it making a successful transition to building the vehicles of this new, electrified age - any dragging of heels risks bringing about its demise”. 

A recent report by CBI Economics, commissioned by the ECIU, revealed that a failure by the car industry to make the transition to manufacturing EVs could see its contributions to the UK economy fall by as much as 73%, or £34.1bn, and over 400,000 jobs could be lost.

Conversely, economic output could increase by over £16bn, and 167,000 new jobs could be created, if a rapid and successful transition takes place. Government support is critical in avoiding such an outcome, and this includes the provision of a stable and supportive regulatory environment through keeping measures like the ZEV Mandate in place." [5]