If you are talking about Lucas car electronics I agree. However in audio, I do not agree. Hi-Fi was founded to a large degree in the UK in that "Golden Age" of British Audio.
Names like Quad, Harold J. Leak, Rogers, Armstrong, Goodmans, Wharfedale, KEF, Ferrograph, Brenell Engineering, Rupert Neeve, Radford, STC, Decca, EMG, Garrard and TDL especially come to mind and actually many others.