If ever there was a sign that the motor industry is back on the road to recovery this is it. New data from the Society of Motor Manufacturers and Traders (SMMT) revealed that motor production has risen by 90.2 percent in comparison between March 2010 and the same month last year.
Online PR News – 26-April-2010 – – Over a quarter of vehicle production and output is targeted towards UK car insurance customers, while almost three quarters of output remains directed towards exports – an encouraging factor financially for UK-based business to rebuild and grow once again.
The biggest test for the UK automotive industry will be when the car scrappage schemes draw to a close. Government-funded schemes encouraged over 300,000 UK motorists to trade in their old vehicles for discounts on new, environmentally-friendly models, helping motorists save up to £2,000 in the process.
Chief executive of the SMMT, Paul Everitt said: "The industry will continue to face tough market conditions with the scrappage incentive scheme closing and limited access to finance and credit for consumers and businesses."
Nevertheless, it is the fifth consecutive month of production growth reported and there will continue to be a demand for motor vehicles both at home and abroad.
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