Exported cars bring in £2.4bn
- Posted by: Simon Wait
- Category: News
Car exports accelerated ahead in August, in a welcome boost for UK trade figures.
The collective value of exported motors soared to a record £2.4 billion during the month, according to figures from the Office for National Statistics (ONS), up £600 million from July.
Production among car manufacturers in the UK is currently back at pre-recession levels in terms of annual performance, following several years of growth, with strong demand both at home and abroad.
It is thought that demand for UK-built vehicles could be boosted further in the short term by the Volkswagen emissions scandal.
The German company has admitted that millions of its diesel models were fitted with manipulation devices to cheat clean air tests.
But it remains to be seen whether worries about the global recovery will hamper demand in the long term, observers have said.
The total value of export goods in August increased by £800 million to £23.6 billion, according to the ONS data. It helped to narrow the UK’s trade deficit – the difference between the goods and services imported versus those exported – to £3.3 billion.