Consumer credit 'must be unlocked' before vehicle production can rise
Motor trades
26th March 2009
There will not be a resurgence in the production of new cars in the UK until consumer credit is unlocked, it has been claimed.
According to Neil Barlow, chief executive of the Northwest Automotive Alliance, vehicle production figures for last month were probably in line with what many people in the motor trade were expecting.
"Until there is an unlocking of credit at the consumer end I think that production will remain at these low levels for the foreseeable future," he remarked.
Recent statistics from the Society of Motor Manufacturers and Traders showed that car production has fallen as companies respond to a slump in demand from consumers.
And commercial vehicle production was down by more than 71 per cent in February, compared to the previous year.
Supported by a regional development agency, the Northwest Automotive Alliance aims to provide a focal point for the motor industry in the region.
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