Car companies in strife

Fri, 06 Mar 2009



Further figures prove that the UK car market is in real strife. With 15,000 fewer new vehicles on the road in February compared to last year, the recession is hitting the new car sector hard, leading many car companies to urge the government for help.

The Society of Motor Manufacturers and Traders released figures showing that new car registrations were 21.9 per cent lower than the same month in 2008. Thousands of jobs have already been shed from car companies, manufacturers and assembly plants.

Although the government has claimed to be helping the car companies, no money has so far been released. A variety of companies are thought to be looking for state assistance, following slumping new car sales .

At this stage, the government has not indicated how it will help the car companies. The chief executive of the SMMT, Paul Everitt, reportedly commented: "What we need now is a more urgent response from the Government, particularly in terms of activity to help demand."
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