Following on from Society of
Motor Manufacturers and Traders figures last week, experts
claim that the downturn in the UK
car industry may have bottomed out. At this stage, talk of a
recovery is much too early. Furthermore, different sectors of the
car market have faced greater problems. The
commercial vehicles sector slumped by 73.5 per cent last month
year on year.
Car production remains much reduced, with
car companies shutting down factories, laying off staff and
cutting back on supply. However, experts in the
car finance news have pointed out that production may be firing
up again.
Honda is starting up production again, whilst
Mini and
Nissan have rehired some staff to deal with
scrappage scheme customers.
The scrappage scheme is proving effective, with some 60,000
cars already ordered. The impact of this scheme may be felt during
June figures. This stimulus may also boost car
finance figures, which have taken a plunge with the fall in
new car sales.
