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UK: July exports rise to new record

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UK: July exports rise to new record

Thanks to the introduction of new models and demand for high-end vehicles, production levels in Britain in July rose almost 3%, leading to the best ever July in terms of car exports.

According to UK’s auto industry body, the Society of Motor Manufacturers and Traders (SMMT), which has kept records since the 1920s, Great Britain’s July production of vehicles reached almost 103,000 units for export purposes – the highest ever for a July month.

“This is a major milestone and testament to the burgeoning reputation of UK automotive excellence and demand for British-made cars,” said SMMT Chief Executive Mike Hawes.

Total production last month reached 132,570 autos, an increase of 2.8% from last year’s July, and the highest level since 2004. The SMMT commented the record for exports was due to increased popularity of Britain made models, as well as growing overseas demand for premium and specialized makers. British-built models for export rose from just one in five in the early to mid 1980s to four in five cars in 2013. However, last month’s rise was lower than June’s increase of 3.7% as growth seems to level off after rapid gains that brought the United Kingdom’s manufacturing industry back to the levels accounted before the 2008-09 crisis.

Via Reuters

by Aurel Niculescu (my Google+) - Thursday, August 21st, 2014 - filed under Industry, News. Image credit: .
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