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Car production boosts UK economy

A report published by the Society of Motor Manufacturers and Traders estimates that turnover in the British motor industry reached a record high of 69.5bn in 2014. About 1.53m vehicles were built in the UK last year, the highest level since the pre-recession peak of 2007, and the report estimates that production will hit an all-time high of 1.95m by 2017. Manufacturing output, vehicle sales, jobs and export values all grew in the past year. The SMMT found that the number of jobs supported by the industry rose by 3.5% to 799,000 in the past 12 months and that the UK auto sector added 15.5bn to the economy.

 

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