UK car manufacturing industry reaches major milestone in July
The increase comes on the back of total production of 132,570 cars in July – a rise of 2.8% – as 2014's steady growth continues.
‘The UK automotive industry continued its renaissance in July, with the month marking five million car exports since 2010,’ said Mike Hawes, SMMT chief executive. ‘This is a major milestone and testament to the burgeoning reputation of UK automotive excellence and demand for British-made cars. Significantly, UK car export values have doubled over the past decade – reflecting the diversity of the products we make and proving the sector's worth as a global investment opportunity.’
The SMMT added that the average car exported today is worth over £20,600, compared to just £10,200 in 2004.