Mike Hawes, SMMT Chief Executive:
“There are some welcome announcements in the Budget, including further funding for the industrial strategy, in particular the Stephenson Challenge and investment into infrastructure. Amid continuing Brexit uncertainty, however, the automotive industry was looking for a stimulus to boost a flagging new car market. We wanted to see more incentives for consumers to purchase the latest, most environmentally friendly vehicles.
“The forthcoming review into the impact of WLTP on Vehicle Excise Duty and company car tax must, therefore, ensure that motorists buying the latest, cleanest cars are not unfairly penalised. Industry looks forward to working closely with government on this review to ensure we encourage the newest, cleanest vehicles on to our roads rather than incentivising consumers and businesses to keep older vehicles going longer.”
About SMMT and the UK automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.
The automotive industry is a vital part of the UK economy accounting for £82 billion turnover and £20.2 billion value added. With some 186,000 people employed directly in manufacturing and 856,000 across the wider automotive industry, it accounts for 12.8% of total UK export of goods and invests £3.65 billion each year in automotive R&D. More than 30 manufacturers build some 70 models of vehicle in the UK supported by 2,500 component providers and some of the world’s most skilled engineers.
More detail on UK automotive available in SMMT’s Motor Industry Facts 2018 publication at smmt.co.uk/facts18
Broadcasters: SMMT has an ISDN studio and access to expert spokespeople, case studies and regional representatives.
SOURCE: SMMT
