The automobile manufacturing industry plays an important role in promoting the growth of the British economy. The average annual investment in automobile research and development in the United Kingdom is about 3 billion pounds, while the automobile manufacturing industry can contribute 670 million pounds to the British economy. £100 million turnover and £14 billion added value. The British auto industry is also an important part of the world. In the past few decades, the UK has been one of the largest car manufacturing countries in Europe, but car production has shown a continuous decline in recent years the trend of.
Affected by the severe shortage of global semiconductors, the shutdown of major factories, and the suspension of supply chains in China caused by the new crown epidemic blockade, UK car production will be 775,014 in 2022, a year-on-year decrease of 9.8%, compared with the pre-epidemic level in 2019. The level decreased by 40.5%, falling to the lowest level in nearly 66 years. Due to the shortage of new car supply, the volume of used car transactions in the UK fell by 12.2% in the third quarter of 2022 to a total of 1,785,447 units, the second consecutive quarter of decline.
Figure 1: 2018-2022 British car production and growth rate (unit: ten thousand units, %)
Data source: Association of British Automobile Manufacturers
2022In 2019, the total number of British car exports was 606,838, a year-on-year decrease of 14.0%, accounting for 78.3% of the total output. At the same time, the total number of cars purchased by British buyers was 168,174. A year-on-year increase of 9.4%, accounting for 21.7%. The TOP10 export destination countries and regions accounted for 90.7% of the total. Among them, the EU and the United States are the main destinations for British car exports. Affected by the energy crisis and inflation, British car exports to the EU will drop by 10% in 2022, while the US market will The decline was as high as 31.6%.
Figure 2: TOP 10 Countries and Regions of UK Automobile Exports in 2022
Data source: Society of Motor Manufacturers and Traders (SMMT)
Although the British automobile production and exports are declining, the British automobile industry still has a high level of technology and innovation capabilities, and has made significant progress in the field of new energy vehicles. In 2022, the number of electric vehicles (including hybrid models) produced in the UK will hit a new high, with a total output of 234,066 units, a year-on-year increase of 4.5%, accounting for nearly one-third of total vehicle production. Exports of BEVs (battery electric vehicles), PHEVs (plug-in hybrid electric vehicles) and HEVs (hybrid electric vehicles) have grown almost sevenfold, from £1.3bn in 2017 to £10bn, according to a new analysis by SMMT. British pounds, of which BEV exports increased by more than 1500%, from 81.7 million pounds to 1.3 billion pounds.
2022High-value, cutting-edge electric vehicle models from British automakers Demand is present around the world and contributes to economic growth by achieving more zero emissions. With the global emphasis on environmental protection and clean energy, the demand for traditional fuel vehicles is gradually decreasing. In the future, the UK will formulate a series of strategies to promote the rapid upgrading of battery production, and based on its ownThe fundamental advantage of the automotive industry shifts towards electric vehicles. The United Kingdom announced that it will phase out fuel vehicles by 2030 and only sell electric vehicles after 2030. This policy will also promote the increase in local electric vehicle production year by year.
SMMT predicts that UK car and light van production will rise by 15% to 984,000 units (842,200 cars and 141,800 light goods vehicles) by 2023, an increase in value of Reaching 3.9 billion pounds, by 2025, production is expected to exceed 1 million vehicles. In the future, the British auto industry still maintains the possibility of rising again in the global competition.
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