Car production rate in the United Kingdom was at its highest in October 2013, as local demand accounts for most of the growth reported during the month, according to the Society of Motor Manufacturers and Traders (SMMT). The UK built 17-percent more vehicles in October 2013 at 160,854 cars. This represents the biggest year-on-year increase so far this year, according to the SMMT. For the first 10 months of 2013, UK car output was 1.286 million, 5.4 percent more than in the same period in 2012.
Carmakers are also increasing their spending in production in the UK. Earlier this week, BMW unveiled a new Mini that will be produced at its Oxford site. Over 80 percent of cars produced in the UK are tagged for export, although majority of the production increase this year has been boosted by local demand complemented by cheap finance deals and surging consumer confidence. Earlier this month, SMMT’s released figures showed that car sales in the UK are up 10.2 percent in the first 10 months of 2013 compared to the same period in 2012.