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Pound Sterling Exchange Rate Boosts Motor Trade Production!

By Nick Paul on the 27 April 2017 in Automotive News

In the wake of the Brexit referendum there were many fears about the automotive market in the UK. These were due to the expected fluctuations in currency and uncertain future that manufacturers would pull out of the UK and imports would fall. Reading at the time was not pretty for the outlook for the UK Automotive industry.

Well today’s news comes less than a year after the referendum and just goes to show how strong the automotive industry is here in the UK. The figurehead stat today is that in the month of March one car was sent overseas every twenty seconds. Every twenty seconds, that is a fantastic figure. In the month of March the UK produced 170,691 vehicles taking the total produced to 471,695 this year. This is the highest rate of production we have seen since the year 2000.

UK car manufacturing has actually been on the increase year on year since the recession in 2008/2009 and continues to be increasing in strength. The investment into the UK for cutting edge technologies in production and the move forward in producing greener cars has seen this continual increase and the fantastic news we heard today about the volumes of production and exports.

Not only are exports up but investment in production is up, with more cars being produced in the UK than ever before. With factories in Birmingham, Sunderland, Oxford, Swindon and Ellesmere Port to name a few, the UK produces cars for Jaguar Land Rover, Nissan, MINI, Toyota, Honda and Vauxhall to name the main production centres. These manufacturers have all continued to produce vehicles in the UK.

With these figures in mind and the news today it would certainly suggest that regardless of what is going on with the Brexit, with the snap General Election and all the current uncertainty, the UK will continue to produce cars and continue to gain momentum in the world market. Exciting news indeed!


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