Friday, 23 September 2016

Car manufacturing driving 14 years high

UK car manufacturing

UK's car manufacturing is on the boom since Brexit. Which leaves the demand 14 years higher.

Production was up 9.1% year-on-year in August, the Society of Motor Manufacturers and Traders (SMMT) said. Year-to-date output rose 12% at more than 1.1 million units.

The figures are another positive sign that manufacturing is holding up despite the Leave vote.

Mike Hawes, SMMT chief executive, said: "August's strong performance is good news for car makers and welcome news for the UK economy."

August's growth was driven by a 10.2% surge in exports, which the SMMT said reflected multi-billion pound investments in UK plants.

Hawes urged more such spending and efforts so that the UK maintains its "internationally competitive business and trading conditions".

Industry and Climate Change Minister Nick Hurd said the figures show the strength of the car sector.

He said: "It now accounts for a bigger share of our exports than ever before, and we will support this success by investing in innovation and continuing to give workers the skills they need to succeed."


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