Selected all your options? Now click here >>
Quick contact

Biggest growth period for UK car manufacturing in 20 years

It's good news for the UK car manufacturing industry: new figures published in December show the longest consecutive run of growth since measurement began back in 1997.

The latest report from the Office for National Statistics shows that UK manufacturing output increased by 0.1% between September and October 2017, meaning that output has increased for the previous six months - a record streak that has not previously been seen in the last 20 years.

It's car manufacturing that's responsible for this growth, with UK car production rising by 4.6% in October compared with September's figures. Much of this, say ONS analysts, is down to increased demand for exports of British cars. Between October 2016 and October 2017, they found that car exports were nearly 18% higher. What's more, UK car manufacturers last month recorded their highest ever foreign export values, with the figure reaching over £4bn.

The long-term picture for UK manufacturing - including car manufacture - says the Office for National Statistics, is one of strong growth. The large fall in sterling as a result of the Brexit vote will have helped the UK car export market, with those exporting their vehicles being seen as more competitive on the international market as a result.

The picture for the domestic car manufacturing market remains relatively modest, but a focus on global growth bodes well as the UK prepares to leave the EU post-Brexit vote. While no trade deals have currently been set in stone by the UK government or the EU, these latest figures show that global demand for cars manufactured within the UK should stand the country's manufacturing sector in good stead for the immediate future, with the only concern being the potential for the increased cost of raw materials.

If you're looking for a new drive, take a look at the wide range of affordable car lease deals offered by Apex Finance & Leasing. From smaller city cars right up to vans, you're sure to find the right choice for you on our website - or contact us for a free, no-obligation quote.

Share this article Post this page to facebookTweet this pageGoogle+ this pagePost this page to LinkedinPin page

Posted on 5th January 2018 at 2:09 PM

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website. However, if you would like to, you can change your cookie settings at any time. Close this message.