Car Production in U.K. Jumps to 17-Year High

Strong demand for exports pushed new-car production in the U.K. 8% to a 17-year high of 153,000 units in February, according to the Society of Motor Manufacturers and Traders.

Output through the first two months of the year reached 301,000 units, the greatest volume for the period since 2002. SMMT says exports last month grew 13% to 118,900 units, offsetting a 7% drop in output for the domestic market.

Analysts note that the weakened pound sterling is helping to push overseas demand by making British-made cars cheaper for foreign importers. The pound was weakened about 15% against the euro since the U.K. voted last year to exit the European Union.