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Number of new cars produced declines for fifth successive month
The number of new cars produced in the UK declined 59% in February - the fifth consecutive month of decline. The Society of Motor Manufacturers and Traders (SMMT) said car production totalled just 59,777 last month.
"The large fall in February's vehicle production is a direct result of weak demand," said SMMT chief executive Paul Everitt.
Carmakers have been lobbying the government for support for their ailing industry, but have been largely unimpressed by the response.
At the start of the year business secretary Lord Mandelson announced a package of support for the car industry. These included a scheme to unlock £1.3bn of European loans - and a government pledge to guarantee up to £1bn of further loans to fund investment in green-friendly vehicles.
On Thursday, the SMMT announced that the British international motor show for 2010 was being cancelled due to the severe problems in the industry.
Post Date: March 20th, 2009
"The large fall in February's vehicle production is a direct result of weak demand," said SMMT chief executive Paul Everitt.
Carmakers have been lobbying the government for support for their ailing industry, but have been largely unimpressed by the response.
At the start of the year business secretary Lord Mandelson announced a package of support for the car industry. These included a scheme to unlock £1.3bn of European loans - and a government pledge to guarantee up to £1bn of further loans to fund investment in green-friendly vehicles.
On Thursday, the SMMT announced that the British international motor show for 2010 was being cancelled due to the severe problems in the industry.
Post Date: March 20th, 2009
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