UK Car Production Rises 9.9 Percent YoY

UK car production continued to strengthen last month, industry figures have shown, with output now having passed the one million mark this year.

The Society of Motor Manufacturers and Traders said production rose to 140,888 in September, up 9.9% from a year ago.

The figures means output for 2013 so far has now reached 1,125,433.

In addition, car production for the 12 months to September hit 1.5 million, the highest rolling 12-month total since October 2008.

The number of cars produced for export rose 9.3% from a year earlier, helped by high demand in China, Russia and the US for luxury British brands.

Mike Hawes, chief executive at SMMT, said the sector was “one of the UK’s biggest success stories in recent years”.

“This long-term financial commitment and robust demand for UK-built products show the global appetite for high-quality, desirable products borne of the UK’s world-class design, R&D and engineering,” he added.

via BBC/a>

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza