Car sales across the UK are up by 11.3% over the last twelve months, new data has revealed.
The UK was the only major car market to have expanded this year, with Greece seeing sales drop by almost 50% and economic powerhouse Germany also seeing a decline of 3.5%.
In November alone, the UK saw an increase in new car registrations of more than 5%.
Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, was delighted with the news: "UK car manufacturing has gone from strength to strength in 2012.”
“The global appeal of UK-built products is a key factor in the strength of our manufacturing sector, supported by world-leading productivity and a dedicated and flexible workforce,” he continued.
There was further good news for UK car manufacturing as car production levels have also risen by 4.9% in November.
Cashflow solutions for UK manufacturers
The manufacturing sector has suffered more than most over the past few years with the cost of raw materials continuing to rise and euro zone hindering exporting conditions.
That’s why Skipton Business Finance is proud to be an active supporter of manufacturers across the UK.
Manufacturers can struggle to find suitable external funding solutions as banks have tightened their lending criteria. However, invoice finance solutions such as factoring and invoice discounting are often accessible for many manufacturers in need of a cashflow boost.
We’ve funded many manufacturers over the last few years who have gone on to grow and prosper, so why not browse our website to find out more about invoice finance and how it could help free up your manufacturing firm’s cashflow.
Approximately one in three businesses using invoice factoring or invoice discounting across the UK are manufacturers (as of end of 2015)