Overview

• A recent SMMT report shows small-volume manufacturers generated over £5.5 billion in turnover during 2024, exporting roughly 90 percent of their vehicles while accounting for 4 percent of output and 12 percent of value
• A UK-US trade deal announced on May 8 cut American tariffs on British cars from 27.5 percent to 10 percent for the first 100,000 vehicles exported
• The luxury and niche sector employs more than 75,000 people in highly skilled roles and supports tens of thousands of additional jobs across its supply chains
• Since 2020, high-end car makers have invested £3.5 billion in R&D to advance lightweight materials, hybrid powertrains and aerodynamic technologies
• Industry leaders warn that volatile trading conditions, stricter decarbonisation mandates and rising production costs threaten future competitiveness without targeted government measures