The United Kingdom automotive industry employs around 850,000 people and is worth approximately £40 billion. The automotive components sector employs 150,000 people and has an annual turnover of £12 billion. The new car market reached record levels with almost 2.5 million cars sold in 2001. However, 76% of these sales were imports. The UK market leaders are Ford, Vauxhall and Peugeot. The key business driver in the automotive manufacturing sector has been to develop profitability through capacity utilisation. The impact of the global industry has accelerated competition on prices and features. These factors, coupled with a high degree of overcapacity from the supply side in many markets, have played a key role in recent plant re-shuffles.