Over the last 12 months, we’ve used this editorial comment as a cheerleader for our industry. Keep your chin up, things are improving…and all that. Without sounding like a broken record, let’s just skim over the latest CBI figures that state new orders have grown at their fastest levels since 1974, employment in manufacturing has grown at its fastest pace since 1973, export orders are climbing, and investment intentions are at their highest since 1988 and 2015 respectively – wow!
However, concerns remain over the availability of materials, parts and capacity. MTDCNC has seen this first-hand as the team has spent less time filming videos of ‘stock machine availability’ – machines are literally flying out of the showrooms and few companies have stock to show. In this issue, we have a chat with Dave Waghorn from Hurco Europe and discuss the industry-wide challenges of meeting this surge in demand.
Going back to the CBI figures, one of the sub-sectors leading the recovery is the automotive industry. This correlates with figures from the European Automobile Manufacturers Association that announced car registrations in the EU and UK rose by 27% to 6.49m cars in the first half of 2021. Whilst good news, it is still some way off the pace of pre-pandemic levels. Analysts expect sales to accelerate in the second half of 2021, putting the slow first half recovery down to the poor pace of Covid vaccines in Europe and the global shortage of semiconductors. In June, new registrations jumped by 13% with UK flagship brand JLR generating a 55% year-on-year sales increase in the region – massively outperforming many leading brands.
With this issue including our automotive sector report, Will Stirling discusses the electric vehicle subcontract supply chain and we also have interviews with both the CEO of Britishvolt and the CEO of Cornish Lithium – yes, you’ve guessed it, an insight into the electric vehicle industry that is steamrolling its way toward us. These upstream suppliers to the UK automotive sector will play a critical role in the sector for years to come, this one is definitely worth a read.
