Tuesday, August 26, 2008
Vehicle production defies economic downturn
Volumes robust in July and ahead over year-to-date
Vehicle production in the UK remains unaffected by the global economic turndown after the industry posted healthy figures in July.
Volumes rose 5.8 per cent year-on-year to 152,076 units, according to the latest figures from the SMMT.
Production over the year-to-date is now up 7.9 per cent compared to the same period last year at almost 1.1 million units.
Car production rose 1 per cent but commercial vehicle production soared by 50 per cent, buoyed by high demand from eastern Europe.
“Commercial vehicle production saw exceptional growth of 50% in July 2008,” said Paul Everitt, SMMT chief executive.
“The 2002-2006 average for the month is around the 15,000 mark, so 21,000 is well above the norm.”
DATED: 26.08.08
FEED: MT
Vehicle production in the UK remains unaffected by the global economic turndown after the industry posted healthy figures in July.
Volumes rose 5.8 per cent year-on-year to 152,076 units, according to the latest figures from the SMMT.
Production over the year-to-date is now up 7.9 per cent compared to the same period last year at almost 1.1 million units.
Car production rose 1 per cent but commercial vehicle production soared by 50 per cent, buoyed by high demand from eastern Europe.
“Commercial vehicle production saw exceptional growth of 50% in July 2008,” said Paul Everitt, SMMT chief executive.
“The 2002-2006 average for the month is around the 15,000 mark, so 21,000 is well above the norm.”
DATED: 26.08.08
FEED: MT
