SMMT Finds car production in October rises by 6%

The Society of Motor Manufacturers and Traders have published a report on their findings on UK car production. October 2010 saw a rise of 6% in production for cars and 49.5% for Commercial vehicles while new car registrations dropped by 22.2%
 
Nov. 19, 2010 - PRLog -- The Society of Motor Manufacturers and Traders have published a report on their findings on UK car production. October 2010 saw a rise of 6% in production for cars and 49.5% for Commercial vehicles while new car registrations dropped by 22.2%

The bloom in production is largely dependent on exports with over 70% of both cars and commercials exported exported this year – a rise of 27.3% for cars and 35.4% for commercials compared with 2009.

The fall in new car registrations at home is worrying for new and used car dealers who are still suffering the effects of the financial crisis. It is expected that 2011 and 2012 will be difficult times for the nearly new car market as cars less than 3 years old become harder to find. It is also thought that the used car market will once again see an across the board rise in used car prices.
However the UK's Scrappage scheme is believed to have propped up the new car market, which remains 4.8% for the first 10 months but is expected to to be only up 1.5% on 2009 by the end of 2010.

http://motortrade.livejournal.com/667.html
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