Worldwide exports for British-built cars have hit five million since 2010, with the average price of exported cars doubling over the last decade, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
In July, 132,570 cars were manufactured, taking the total since 2010 to the five million mark. The price of the average car that is now exported is £20,600 compared to just £10,200 in 2004.
The stats also show that almost eight out of 10 vehicles made in Britain are now exported as the popularity of luxury British brands continues to build in Europe and, more importantly, the Chinese market.
UK factories have seen a resurgence recently with investment from foreign companies such as Jaguar Land Rover, Bentley, Nissan and Toyota. So far 923,884 cars have rolled off the UK production lines - up 3.4 per cent on the start of 2013.
The SMMT said around 1.6 million cars will be produced in the UK in 2014 with the previous record of 1.92m cars set in 1972 set to be broken in 2017.
"The UK automotive industry continued its renaissance in July, with the month marking five million car exports since 2010," said Mike Hawes, SMMT chief executive. "This is a major milestone and testament to the burgeoning reputation of UK automotive excellence and demand for British-made cars.
"Significantly, UK car export values have doubled over the past decade – reflecting the diversity of the products we make and proving the sector’s worth as a global investment opportunity."