Car production plummets

Some devestating news on car production form the society of Motor manufacturers is out this morning.

Car production in February fell by 59 per cent across the board with commercial vehicles hardest hit by nearly 71 per cent.

“The large fall in February’s vehicle production is a direct result of weak demand and the need to protect the highly-skilled workforce and valuable industrial capability in the UK automotive sector,” said Paul Everitt, SMMT chief executive. “We have seen action to encourage longer-term investment, but still require government support for short-time working, easier access to finance and credit and the implementation of a vehicle scrappage scheme.”

Remember this is not sales this is production,so on this basis car sales are forecast to be a lot worse than this