British car manufacturing has received an exciting boost, hitting a seventeen year high in February. Overall production in the industry rose eight percent (to 153,041) last month and boosted by a thirteen percent increase in sales to overseas markets. Since Brexit the fifteen percent fall in the pound against the euro has helped make British exports cheaper to foreign buyers. Simultaneously this has increased the cost of importing from the continent for UK-assembled models.
Throughout February UK production lines turned out one car every sixteen seconds! These exciting figures show the illustration of continuing global popularity of British built vehicles which is providing a smile in both the car manufacturing realms and the national economy.
One out of every ten cars made in Britain is thought to be manufactured for the international market with half of those being for customers in the EU. Britain is determined to avoid barriers in trade and remain building a reputation as a fair free trading country. Car production in Britain has crossed the 300,000 mark for the first time in fifteen years in the past two months alone and it is causing an uplifting stir amongst those in the industry.
This exciting news follows last weekâs announcement by Toyota who stated they would invest £240million ($300m) to upgrade their Burnaston plant near Derby. The Japanese car maker insisted their factory would be modernized, provided with new technologies and equipment and be able to manufacture vehicles under their new global architectural platform. There are still the fears of competitiveness of the British automobile establishments that will continue over the next two years, but the recent boosts are a positive leap forward for Britain and the car manufacturing industries.