The United Kingdom is the center of a variety of cars in Europe. The automotive industry in the UK is lively and world class. Many global car companies have established their base in Britain for their supportive business environment staff and engineering quality.
More than 40 well known car manufacturers like Ford BMW Nissan Honda and Toyota have manufacturing units set up in the UK. The automotive industry is supported by a strong supply chain that extends from world class design high precision and high performance engineering companies. There are over 10000 active companies in the UK automotive industry ranging from small and medium sized manufacturers to large plants controlled by multinational manufacturers. The focus of these companies is about innovation in technology and component design.
The companies operating in the automotive industry can be differentiated into five categories
Component design and manufacturing
Manufacture of vehicle manufacturing
High performance motorsport design and manufacturing
Key forces in the automotive industry
The UK has an established infrastructure for the automotive industry. International automotive companies have a presence in the UK. Component manufacturing companies can sell their products to these multinational companies or abroad. Development technology and design make Britain the premier runners in the global automotive industry. There are more than 2000 small and medium sized companies involved in engine production alone.
Preferential Amount for Import
The GSP allows the automotive industry to import components from a number of countries at reduced or zero duty rates. The EU also has trade agreements with third world countries because goods imported from these countries are entitled to preferential tariff rates. Preferential rates also apply to exports to the least developed countries mentioned in the GSP. EU goods deduct a reduced rate when goods are exported to such countries. It is also easy to trade with EU countries as Britain is part of the EU. The EU market is a single market and there are no trade restrictions for companies based in EU countries. The automotive industry in the UK has a bright future based on the demand for sophisticated vehicles that deliver cleaner and more fuel efficient vehicles. The British automotive industrys creativity and ingenuity will play an important role in Britains prosperity.
The United Kingdom is also known as the European hub for its advanced technical capabilities in the fields of air energy food and beverage automotive environmental technology medical and pharmaceutical. Growth in this sector is driven by advanced materials industry at the forefront of developing new products that deliver better performance and functionality. The United Kingdom has a high volume of exports in the automotive industry construction equipment. The space and aviation industry is also a huge income income and pays up to