Cars built in Britain are enjoying record levels of popularity at present, with exports reaching new heights as international buyers clamour to own a slice of the UK automotive industry.
With UK car manufacturing hitting a 10-year high last year, with 1.2 million vehicles exported to over 100 countries, 2016 already looks set to smash that impressive total. In the first eight months of this year, almost 900,000 cars have been exported abroad, representing a 13 per cent rise on the same time period in 2015.
With the interest in British-built cars ever growing, manufacturers will be looking to expand their offerings to meet demand, so it is vital to keep motor trade insurance up to date to ensure any new, larger premises and new stock are all included in the insurance policy.
British-based manufacturers including BMW Mini, Aston Martin, Jaguar Land Rover and McLaren arrived in Paris ahead of the Paris Motor Show alongside British parliamentary under-secretary of state at the Department for International Trade, Mark Garnier MP, in order to highlight the UK automotive sector's growing strength.
Chief executive of the Society of Motor Manufacturers and Traders, Mike Hawes, said: “The UK automotive industry is respected globally for its rich heritage, iconic brands and engineering excellence. More than £10 billion of investment has gone into new facilities and models over the past five years and we’re proud to see so many rival brands coming together to promote the strengths of UK automotive ahead of a key international motor show.
“The future success of this sector will hinge upon the ability of the UK to maintain the business and trading conditions that make the sector so competitive globally.”
In terms of trading partners, the European Union is the UK's largest, with 57.3 per cent of UK-produced cars being exported to the EU this year, followed by 12.1 per cent to the US and 7.1 per cent to China.