Britain’s Luxury and Sports Car Manufacturers Boost Exports
The UK’s luxury and high-performance car manufacturers are significantly contributing to the country’s exports, with a new report revealing that they export almost £5 billion worth of high-value vehicles globally every year. The Society of Motor Manufacturers and Traders (SMMT) report highlights the importance of these quintessentially British brands, including Aston Martin, Bentley, LEVC, Lotus, McLaren, and Morgan, in producing high-performance supercars, luxury SUVs, electric saloons, and even taxis.
The sector generates over £5.5 billion in annual turnover and supports more than 15,000 high-skilled jobs, with an average salary of £43,729, which is 18% higher than the national average. Additionally, the industry supports around 60,000 jobs in its supply chain, helping to maintain high levels of domestic content. These manufacturers have also invested approximately £3.5 billion in research and development since 2020, driving innovation in areas such as lightweighting, hybrid powertrains, and aerodynamics.
However, the UK’s small volume manufacturers face challenges including volatile global trading conditions, the transition to decarbonization, production cost pressures, and skills shortages. The industry is calling for government support through measures such as recognizing the sector’s value in industrial and trade strategies, supporting decarbonization, providing greater access to R&D funding, and facilitating trade negotiations to address market access barriers.
“Britain’s luxury and niche car manufacturers support high-skilled job creation and drive innovation,” said a government spokesperson. The government is committed to championing the sector as part of its mission to promote British industry abroad and attract investment.
The SMMT report outlines key measures to support the sector, including flexible pathways for decarbonization, accessible R&D funding, and workforce upskilling initiatives. By addressing these challenges, the government aims to ensure the long-term success of Britain’s luxury automotive manufacturers.
