New figures show the number of automotives produced during February decreased a further 60.6 per cent, which could concern motor traders with business insurance.
Commercial vehicle output fell a total of 71.6 per cent last month, with the year-to-date figures dropping 65.7 per cent, statistics published by the Society of Motor Manufacturers and Traders (SMMT) reveal.
Paul Everitt, chief executive of the SMMT, claims this trend is a direct result of the lack of demand in the sector.
He states that measures which were implemented to protect the workforce and capability of the industry are also affecting production, motor traders with business insurance may be interested to discover.
"We have seen action to encourage longer-term investment, but still require government support for short-time working, easier access to finance and credit and the implementation of a vehicle scrappage scheme," he asserts.
In other news, director of the Retail Motor Industry Federation Sue Robinson has recently called on the government to clarify its position on scrappage incentive schemes.
