The Light vehicle capacity of United Kingdom attained a value of 2,081,000 Units in 2020
GlobalData projects the indicator to grow at a CAGR of...
Light vehicle capacity of the United Kingdom
The UK car manufacturing industry has been in decline in both value and volume terms in recent years. The industry suffered a steep decline in 2020 amid the COVID-19 pandemic. The industry looks set to recover in the forecast period. The decline in the UK’s car manufacturing industry has been impacted by falling business and consumer confidence in the UK, allied to weakening export markets. As the UK has undergone the process of leaving the EU, this situation has worsened. The uncertainty surrounding Brexit throughout the historic period played an important part in the decline of the market.
The industry is expected to see recovery in 2021, as the immunization of the population will allow a gradual return to normal from the second half of 2021 with the recovery of consumer spending. Despite the industry seeing a decline in recent years, the hybrid & electric cars segment has remained a bright spot. Sales of hybrid and electric cars in the UK grew between 2016 and 2020.
Competitive Landscape
The four leading players in the UK car manufacturing industry, Toyota, Nissan, Tata, and BMW, accounted for most of the production volume in 2020. The leading players in this industry are tapping into the growing demand for hybrid and electric vehicles, while alliances within the industry are a common strategy. The COVID-19 pandemic temporarily halted production in many countries in 2020, as well as disrupted the supply chain, and as such, the leading players have been negatively impacted.
As car manufacturing costs have increased in recent years, an increasing number of players within the industry have sought to intensify the movement of manufacturing facilities towards Asia, especially since growth in the wider car manufacturing industry has been the strongest on this continent in recent years. A growing number of major global car manufacturing players have therefore sought to enter into joint ventures (JVs) with local Asian players to manufacture their vehicles in more cost-efficient manufacturing facilities in Asia.
Light vehicles include: Four-wheeled vehicles up to 6 tonnes Gross Vehicle Weight.
Germany
Japan
Netherlands
United States of America
United States of America
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Germany
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