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Car industry accelerates as weaker pound pushes up exports

Car industry accelerates as weaker pound pushes up exports

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The UK car industry has seen its best month for manufacturing since the beginning of 2000, as overseas demand sees exports increase by over 10% in the year to March.

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New figures from the Society of Motor Manufacturers and Traders (SMMT) show that British car makers produced 170,691 vehicles last month, the highest seen in 17 years.

An increase in exports was a big reason for the jump, with one car sent overseas every 20 seconds during the course of March.

Overall, 471,695 vehicles have been manufactured in Britain so far this year, again making it the most successful quarter since Q1 2000.

The weakness in the pound means it is now cheaper for overseas consumers to buy vehicles from Britain, giving UK firms which export abroad a competitive advantage.

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