The study found the total turnover of the UK’s high-value, small-volume manufacturers in 2024 was more than £5.5 billion, with around nine in 10 of their vehicles shipped overseas. They were responsible for just 4% of the UK’s car production, but accounted for 12% of its value. In excess of 15,000 people are employed in high-skilled, well-paid jobs by the companies, the SMMT found. It included American tariffs on UK cars being 10% for the first 100,000 vehicles exported. Mr Trump had previously set the tariff rate on car exports to the US at 27.5%.

Source: The Times June 10, 2025 05:09 UTC