UK Car Manufacturing hits one million mark!
UK car manufacturing is continuing to boom after twelve consecutive months of growth and hitting the one million manufactured cars this year. If you compare this figure to July 2015, the society of Motor Manufacturers and Traders (SMMT) have said that July 2016 output has a 7.6% increase.
Three quarters of UK manufactured cars are for destined for overseas and this reflects the current boom for British manufactured cars with the European Union the biggest export market.
How will the Brexit decision affect UK car manufacturing and in particular its export market. The impact is currently unknown. The SMMT have urged the government to ensure as part of Brexit negotiations the UK car manufacturing market is protected. This includes proposals to ensure UK car exports are tariff free. To continue the UK car manufacturing boom Britain must remain competitive and open for business.