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UK Car Production Rises12-Aug-2014

Car production in the UK has increased by 2.8% in July, compared to last year, according to the Society of Motor Manufacturers and Traders (SMMT).

They now predict that annual production will surpass 1972’s record of 1.92 million cars by 2017, while SMMT have said that the rise is due to new models being made in the UK, while there is a growing demand for premium and specialist models overseas.

This was reflected in the SMMT findings, and there was a rise of 2.9% in July for cars made specifically for export. The average exported car was worth over £20,600, and 10 years ago that figure was just £10,200.

More than 130,000 cars were made in the UK last month, and that now takes the year-to-date figure to 923,884. The head of automotive at KPMG, John Leech, stated that the figures show that Britain has successfully climbed up the ‘value-chain’.

He added that "other Western European countries will be looking enviously at the UK as these vehicles provide a stable and profitable platform.”