UK motorsport sector shows formula for success

Released before Christmas, it's in contrast to a broader survey of manufacturing in the UK conducted by the CBI, which reported muted expectations, points out the association. The UK motorsport industry is a key contributor to the British economy, generating £6 billion in global sales annually, with the centrally-located Motorsport Valley home to over 3,500 companies and 40,000 jobs. Nearly 60% of motorsport companies participating in the Motorsport Business Survey reported an increase in sales over the preceding financial year. Over 10% of those companies reported a rise of more than 50%, despite the harsh economic climate. Some 56% of companies reported increasing headcounts during the 2011/2012 financial year, while 17% of motorsport engineering companies invested over 30% of their turnover on R&D; well above the UK manufacturing average. Autosport International 2012 generated more than £800 million in business, with over 700 companies exhibiting. The 2013 edition will take place at the NEC from 10-13 January. Image shows Vodafone McLaren Mercedes MP4-27