UK Car Manufacturing Rises in July

More than 130,000 cars were made in the UK last month, a rise of 2.8% compared with last year, according to the Society of Motor Manufacturers and Traders (SMMT).

Last month’s total took the year-to-date figure to 923,884.

This was a 3.4% increase on the total for the first seven months of last year.

Cars made for export rose 2.9% last month, taking the total number exported since 2010 past the 5 million mark.

The average exported car was worth over £20,600, compared to £10,200 in 2004.

The SMMT has forecast that annual production will beat 1972’s record of 1.92 million cars by 2017.

The trade body said that rising exports were due to new models being made in the UK and the increasing popularity overseas of premium and specialist brands such as those made by Jaguar Land Rover.

via BBC

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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