28 Dec 2008
Commercial vehicle production down
- Car production fell 33.3% in November - year-to-date is down 2.7%.
- Commercial vehicle production down 50.2% for the month of November.
- Year-to-date volumes down 2.7% for all vehicles. 75.7% output is exported.
- Rapid slowdown in output caused by fall in domestic and export demand. Urgent support to restore demand and loosen credit restrictions needed.
"The UK motor industry is facing unprecedented challenges and urgent action is now required. The sector has seen falls in demand, extended plant closures and the first signs of redundancies in the supply chain," said Paul Everitt, SMMT chief executive. "Without swift action and the ability to access credit and finance, significant damage will be done to the nation's industrial capability - leaving the UK poorly equipped to take advantage of any global growth when it returns."
Top Van Insurance Providers