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Business News

Cars production at four-year high for record exports

UK car production hit a four-year high last year as car exports reached a new record, defying the deep slump in European vehicle sales, according to research.

British factories built 1.46 million cars last year, of which 1.21 million were exported, according to the Society of Motor Manufacturers and Traders. Production was up 9 per cent and exports by 8 per cent, even though car sales in the EU hit a 17-year low. About half of Britain's exports go outside Europe, where strong demand from countries such as China, Russia and America helped to offset the weakness on the Continent.

"The outlook for this year remains positive, with demand in many faster-growing global markets offsetting the continued weaknesses in European economies," the SMMT said.