March 20, 2009

UK Car Production In Record Drop

The number of new cars that are produced within the UK declined by 59% in February, this is a record fall in UK car production as the motor industry is continuing to suffer. The SMMT (society of motor manufacturers) said that the number of cars produced totalled just under 60,000 last month.

Firms in the UK have cut jobs and production as the demand for cars fall due to the recession, car makers have been lobbying for the government to help their finance divisions that provide the loans to buy cars. SMMT chief executive Paul Everitt said: “The large fall in February’s vehicle production is a direct result of weak demand”.

The 59% fall was the largest fall in a single month since the SMMT started keeping records which date back to 1970, it also showed February was the fifth straight month of decline.

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