The UK car industry is “back in the game” after securing £24bn of new investment pledges last year, the motor trade body said on Thursday, more than the combined total for the previous seven years.
After years of curtailed spending owing to Brexit uncertainty and instability at the top of government, the auto sector became “investible” again, with Nissan, Jaguar Land Rover, Tata and BMW all making big announcements, the Society of Motor Manufacturers and Traders said.
The upbeat assessment comes as figures, released by the SMMT on Thursday, showed UK vehicle production rose above 1mn for the first time since 2019. This represented a 17 per cent rise, buoyed by a wider recovery in the car market and strong exports to Europe.
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