|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Tuesday 23rd of June 2009
February 22, 2009

UK car production in significant fall


by Kay Murchie
”UK

Figures released by the Society of Motor Manufacturers and Traders (SMMT) have revealed a significant fall in UK car production.

According to the SMMT, 61,404 news cars were produced last month, almost 60% down compared with than January 2008, primarily due to the slump in demand for new vehicles which has resulted in many plant closures and job losses.

The SMMT added that the majority of cars made over the month (83%) were allocated for export as demand in the UK slows.

Last week, BMW announced it was reducing headcount by 850 at its Mini plant in Oxford, while over 1,000 job losses were recently announced at Nissan’s plant in Sunderland.

Meanwhile, Honda has closed its plant in Swindon for four months due to a slump in demand.

Furthermore, fears have been raised for the safety of UK jobs at Vauxhall, after the company’s US parent, General Motors, announced 47,000 job losses worldwide.

The alarming report come as UK union, Unite warned that a UK car plant may be forced to closed within days.

The unnamed plant, which employs 6,000 people, is at risk of closure unless the Government provides more financial support for the industry, said Unite.

A meeting has taken place between Tony Woodley and Derek Simpson of Unite with Chancellor Alistair Darling to discuss urgent financial aid to prevent the facility from collapse.

Mr Simpson is calling for a multi-billion pound fund to be made available to struggling car manufacturers.

Discuss this in the Finance Markets forums

Story link: UK car production in significant fall


Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

 

Tags: , , , , , , , ,

 

Previous: « Cattles loses big on warning
Next: RBS to sell off £300bn worth of assets »

Visited 834 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment