From 2004 to 2014, car exports in the UK doubled in value. This year alone, overseas customers have bought £24.8bn in British made cars.
The average value of luxurious UK made cars such as Jaguar Land Rover, BMW’s MINI brand and Bentley has doubled as well. This number was at £10,200 a decade ago but is now at over £20,000 according to an economy report at The Financial Times.
Industry experts see those numbers as an affirmation for the quality and confidence in British engineering and products. The CEO of SMMT in a public statement: “This reflects the thriving nature of our domestic industry and our global reputation for engineering expertise.With booming production volumes and the increasing value of UK car manufacturing, we are enjoying healthy demand from both growing and established markets.”
Despite the positive trend in the number of British car exports, some experts are criticizing that only a mere 30% of the value in British made cars is made from UK-built components. Other countries such as Germany are doing better in that regards. As compared to the UK, more than twice of a car’s value there comes from components made in Germany.