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Record turnover for automotive sector
Date Listed: 05/07/2012
According to a new report released by the society of Motor Manufacturers and Traders (SMMT) the automotive sector enjoyed a record turnover in 2011; profits were up by more than 12% to £55 billion with exports at an all time high. Added to this, independent forecasts suggest that the sector will hit record manufacturing levels of two million vehicles by 2015.
These figures have been extracted from SMMT’s 13th Annual Sustainability report which also revealed significant improvements against all key environmental performance indicators.
The report details how the automotive industry continually invests in young people through apprenticeships, of which there was a 12% rise last year.
SMMT chief executive Paul Everitt said: “The automotive industry is continuing to lead the country’s economic recovery, increasing manufacturing output, delivering record turnover and exporting a greater proportion of cars than ever before, all while reducing our environmental footprint.”