New figures show that vehicle manufacturing remains down, but the pace of decline could be easing, which may interest motor trade insurance holders.
According to the Society of Motor Manufacturers and Traders (SMMT), 39,718 cars were produced in June, representing a 30.2 per cent decrease on the same month in 2008.
However, the organisation explained that the shortfall in June was the smallest experienced this year, motor trade insurance customers may be glad to hear.
The group also revealed that there was a 60.4 per cent fall in the output of commercial vehicles, with just 8,532 being produced last month.
Despite the falling output, vehicle plants report that they expect to see volumes gradually restore themselves, offering good news to motor trade insurance holders.
Paul Everitt, chief executive of the SMMT, commented: "As production volumes and registrations begin to stabilise, government must help to sustain consumer confidence and encourage banks to deliver the credit industry needs."
Recently, the Confederation of British Industry claimed that manufacturing insurance holders could still face a long wait for growth to return to the industry.
