The automotive sector represents 6.7% of UK turnover and 2.6% of gross value added.
UK automotive turnover is estimated to have improved after the recession, recovering from £41 billion in 2009 to £49 billion in 2010 (pre-recession levels over £50 billion). The sector added some £10 billion to the UK economy in 2010, on par with pre-recession figures, as exports picked up sharply.
The value of UK exports rose to £29 billion in 2010, just ahead of the 2008 peak. The automotive sector represented almost 11% of all UK trade in goods in 2010.
Approximately four out of five vehicles produced in the UK are exported and increased sales of premium products to markets such as China and the US helped lift the UK automotive sector’s performance.