Commercial vehicle production drops

Productions in the commercial vehicle sector dropped a massive 63 in the first quarter of 2009, this is according to the latest figures released by SMMT. There was a massive 75.6 drop in the UK market compared to the 46.4 drop in exports.

The chief executive of SMMT, Paul Everitt said “The figures show that urgent action is necessary to kick start demand in the motor industry. It has an essential role in the UK's economic future, but it will be some months before we see any significant increase in output.”

A scrappage scheme was announced in the governments budget meeting last week that is designed to stimulate the demand for commercial vehicles. Under the scheme, anyone trading in a car or van that is at least 10 years old and no more than 3.5 tonnes will be offered £2,000 towards a new vehicle. The scrappage scheme will operate from mid-May until March 2010, or until the £300m of government funding dedicated to it has run out.

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