Image Image: Jordi Bernabeu Farrús

While most things seem all doom and gloom when it comes to the economy after the vote to leave the European Union, figures from the car industry are giving more than a little cause for optimism.

The industry produced over a million cars in the first seven months of the year, with output up 7.6% in July, according to industry body the Society of Motor Manufacturers & Traders (SMMT). At 1.023 million cars, it was the first time production has hit one million since 2004.

The car industry is actually an area that could flourish in the wake of the Brexit vote. While thirst for big purchases might be somewhat dampened after the referendum, it has had a big effect on the value of the pound. It is now cheaper for other nations to purchase British products. And where do nearly 80% of all cars produced in the UK go? Overseas markets.

The SMMT said exports were up 6% in July, following the vote. But there was also a 14% rise in production of cars destined for the UK market.

Mike Hawes, chief executive of the SMMT, said: "UK car production in 2016 is booming, with new British-built models in demand across the world."

While there are widespread concerns over the economic impact of the Brexit vote, Mr Hawes urged the government to ensure British is 'open for business'.

He said: "Manufacturers have invested billions to develop exciting new models and produce them competitively here in the UK.

"Future success will depend on continued new car demand and attracting the next wave of investment so Britain must demonstrate it remains competitive and open for business."

Earlier this week, the SMMT reported a new record number of second-hand cars sold in the first half of the year after an 8% rise on last year. The trade body said it followed the recent strong performance of new car sales, with the most popular second-hand cars between one and three years old.