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UK car production declines 8.9%
Car production in the UK declined by 8.9% in July compared to the same month last year, according to Society of Motor Manufacturers and Traders (SMMT).
Just over 98,000 cars were produced in July and the decline comes after eight successive months of production increases.
The decline has been attributed to the ending of the UK's scrappage scheme, which gave consumers £2,000 off a new car if they trade in a car that is at least ten years old.
Despite the negative figure for July SMMT chief Paul Everitt remains positive over the future of the industry.
"The easing of demand was anticipated following the end of scrappage incentives in markets around Europe. UK vehicle production is more than 40% up on last year's levels and whilst we expect some challenging conditions, economic growth has returned in all major markets around the world," said Mr Everitt.
Post Date: August 19th, 2010
Just over 98,000 cars were produced in July and the decline comes after eight successive months of production increases.
The decline has been attributed to the ending of the UK's scrappage scheme, which gave consumers £2,000 off a new car if they trade in a car that is at least ten years old.
Despite the negative figure for July SMMT chief Paul Everitt remains positive over the future of the industry.
"The easing of demand was anticipated following the end of scrappage incentives in markets around Europe. UK vehicle production is more than 40% up on last year's levels and whilst we expect some challenging conditions, economic growth has returned in all major markets around the world," said Mr Everitt.
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Post Date: August 19th, 2010
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