UK vehicle manufacturers have set a target to produce 2 million units a year by 2015.
This will surpass the 1972 record of 1.92 million units.
The Society of Motor Manufacturers and Traders (SMMT) said the target would rely on the stability of the eurozone and ongoing support from the Government.
Achieving annual car manufacturing volumes in excess of two million units would equate to an increase in manufacturing output of more than 50% over 2011’s level of 1.3 million units.
Paul Everitt, SMMT’s chief executive, said: “The UK has attracted unprecedented levels of new investment and has a tremendous opportunity to see vehicle manufacturing rise to record levels in the years ahead.
“To remain globally competitive it is essential that industry and Government continue to work in partnership and that key eurozone markets return to sustainable levels of economic growth.”
Economic uncertainty across the eurozone is a factor that all businesses are watching closely. To a certain extent, the UK is insulated from the worst of demand fluctuations as it exports 40% of its products to countries outside Europe. However, it is clear that the ongoing stability and success of UK automotive is linked closely to demand from the continent.