Despite excellent car production figures for December last year, 2009 saw car production tail off rapidly. The depressed state of the new and used vehicle market has been confirmed by figures from the Society of Motor Manufacturers and Traders.

The number of cars produced last year was down 30.9% on figures from 2008, with a total of 999,460 vehicles in the UK. Commercial vehicles took one of the worst battering, slumping over 50% last year.

Paul Everitt of the SMMT reportedly commented: The significant rise in December vehicle production is welcome news and signals some greater stability across global automotive markets. We expect the year ahead to be extremely challenging, but the return of economic growth and a competitive exchange rate will help UK producers. Car and commercial vehicle production remain well below pre-recession levels and it is essential that there continues to be a focus on creating more and better-priced finance for businesses and consumers.