New car exports from the UK rose again in July 2014 – meaning more cars have been exported from the UK since 2010 to date than in any other decade on record.
A British car production total of 132,570 cars in July marked a 2.8% rise over 2013, the SMMT has revealed, with exports growing half a percentage point faster than cars destined for the UK.
Year to date, while cars built for the home market have gone up by 2%, exports have almost doubled since this point last year, with growth of 3.8%.
Already, 728,440 cars have left the UK – that’s 78.8% of total production – and the SMMT’s Chief Executive Mike Hawes declared the total number of cars destined for abroad breaking the 5 million barrier “a major milestone and testament to the burgeoning reputation of UK automotive excellence and demand for British-made cars.”
Next month, British car production in 2014 will top the 1 million mark and, by the end of the year, well over a million cars will have been exported from the UK in 2014 alone.
All those cars are now worth much more as well, with the average export car worth standing at more than £20,600. In 2004, it was just £10,200. Booming premium manufacturer Jaguar Land Rover is leading growth here, although Britain’s supercar manufacturers Aston Martin, Lotus and McLaren are also contributing to the rise in value.
This is helping the UK automotive industry claim to add £12 billion in value to the UK economy. Such figures, said Hawes, reflect “the diversity of the products we make and proving the sector’s worth as a global investment opportunity.”
Indeed, although UK car manufacturing still has a little way to go before it beats 1973’s all-time record of 1.9 million cars, the number of exports – a crucial contributor to British GDP – are already way ahead.
Back in 73, just over 600,000 new cars were exported, around 1 in 3 of total cars built. Today, that figure is almost 4 in 5.