“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,” Paul Everitt, SMMT CEO said.
Manufacturer's response to the failing demand caused commercial vehicle production to go down by 71,6 percent. Passenger car production slowed down by 59 percent, bringing the total drop in production in February to be 60,6 percent lower than the same period in 2008. The overall year-to-date drop in production stands at 59.7 percent.
“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,” concluded the official.
Britain lost 24 percent of its new car sales to the economic crisis in February, compared to the previous year, placing the Island in the middle of a list of sales decline lead by Spain, who lost 49 percent.
SMMT was also forced to cancel the 2010 British International Motor Show, initially set to take place in London as a result of the "unprecedented challenges facing the industry both in the UK and around the world" who "deterred manufacturers from committing to large-scale, international events."
This measure might be considered as being rushed measure, as thinks might take a turn for the better by 2010. As we've seen, the 2009 Barcelona Auto Show will take place after all, despite its initial cancellation and the drop in sales we mentioned above.
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