LONDON: The car manufacturing sector of the United Kingdom has experienced its best year since 2007 as 1,528,148 cars were produced in 2014, said Society of Motor Manufacturers and Traders.
The SMMT said that the growth is 1.2 percent more than 2013. In December 2014 alone, 108,721 cars were produced, up 27.1% on December 2013.
The SMMT said the growth comes despite challenges in some export markets. Overall, the output matched the growth in UK registrations, rising 8.0%.
China is now the UK’s second-largest market outside of Europe, accounting for around 12% of exports compared to 1% in 2007, while in 2004 the wholesale value of UK car exports was around £12 billion.
This has doubled to more than £26 billion in 2014 despite a similar number of cars being made. The average car exported in 2004 cost £10,200 compared to £21,800 in 2014.
“Placed in context, a 1.2% growth in UK car manufacturing in 2014 represents a very successful year. The industry has overcome various challenges, including slower than expected EU recovery and weakness in some global markets,” said Mike Hawes, SMMT chief executive.
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