Decline in car output rate smallest this year
UK car production fell by 6.7% in October amounting to 106,400 cars. Compared with a year earlier this represents the smallest annual decline of the year, figures just released by SMMT have shown.
The continuing impact of the government’s scrappage scheme and a recovery in global markets is helping to drive production, the SMMT said. But it predicted “another difficult year” ahead for the car industry.
So far this year, 801,169 cars have been produced in the UK, a fall of 38.1% on the same period last year.
The decline in commercial vehicle production was much more dramatic, with year-on-year figures showing a fall of 39.5%. Production for the first nine months of this year is now down 60%
From SMMT:
Pace of decline in car output slowing, October’s shortfall was smallest of the year.
Commercial vehicle output continues to decline sharply.
SMMT has encouraged government to boost business confidence through its pre-budget report.
“The rate of decline in UK car production continued to fall in October, against a weak 2008. The scrappage scheme and early signs of recovery in global markets offer some encouragement to UK vehicle producers, but 2010 is expected to be another difficult year for the industry,” said Paul Everitt, SMMT chief executive. “SMMT has asked the chancellor to use the pre-budget report to help sustain and strengthen recovery. Building business and consumer confidence will be key factors during the first half of 2010.”
Download SMMT report here…
Get a CAP Used Car Valuation for just £3.50 - What The Professionals Use
The Motor Trade Insider Guide To Buying New Cars
- UK car production fell 16.1 percent year on year in September, the smallest decline for 12 months, the Society of [...]...
- The number of new cars made in the UK fell 31.5% in August from the same month a year earlier, [...]...
- The number of new cars made in the UK fell 17.9% in July from the same month a year earlier, [...]...
- The number of new cars made in the UK fell 30.2% in June from the same month a year earlier, [...]...
- As we all know car production is down because of falling demand and confirming the worst the SMMT have just [...]...
- A total of 61,404 news cars were produced last month, 58.7% lower than January 2008, as plants closed for extended [...]...
For those of you who thought bankers drafts were as good as cash, think again. It takes up to 5 days for a BD to clear and if it is stolen or a forgery your car can be long gone before the bank or you realise leaving you with no car and no money.
In that case what is the point of a bankers draft over a cheque? 
![[Valid RSS]](http://www.motor-trade-insider.com/images/valid-rss.png "Validate my RSS feed")
Recent Comments