SMMT hikes UK content
Page 7
If you've noticed an error in this article please click here to report it so we can fix it.
• The Society of Motor Manufacturers and Traders has tightened up its stipulation defining British manufactured vehicles, by increasing the local content from 50% to 60% by value — with an EC content of 80%. The rule allowing British manufactured status to firms proving a 75% UK turnover has been scrapped.
An extraordinary general meeting of the SMMT changed the definition of British manu
facture in Article 1 of the Society's articles of association. Subject to the 60/80% rule a manufacturer qualifies for British status if he can prove that he is "situated in the United Kingdom... (and) engaged in the manufacture of motor products for sale within and outside the United Kingdom...".
Swedish truck maker Volvo, which manufactures in the UK, says it wants to "look at the proposals" before commenting.