subject: More Vehicles Produced In October [print this page] Many financial analysts claim that we will see a double dip recession, that the economy is not growing and that we are going to suffer financial difficulties for the next few years. Its always great waking up to this sort of news on a Monday morning!
There are however many analysts who claim that the UK is slowly but surely coming out of recession, some even claim the recession wasnt as bad as was initially anticipated. The banks and finance houses are still in a bad state, but the low interest rates and heavy discounts on consumer goods have seen many enjoy the past year or so.
The housing market and automotive industry are two very good indicators of the UKs economical state, house prices have been increasing and decreasing recently, with only small increases but luckily this has meant only very small decreases. The automotive industry has suffered quite badly, but in the UK Government initiatives like the scrappage scheme really have helped some manufacturers stay afloat.
There is some good news from the automotive industry, during October UK car output rose by 6%, 31.1% over the year-to-date, while commercial vehicle production rose 47.1% in October; 39% over the year-to-date.
The Society of Motor Manufactures chief executive said, UK vehicle production rose 8.8% in October and signals steady improvement in global vehicle markets and the strength of the UK product line-up.
The motor industry has reacted well in light of different consumer demands; people want smaller, economical cars which do not cost the wallet or the earth. By tapping into this new market segment many manufacturers have been able to become early adopters and provide their customers with what they need. A good example of this is the Honda CRZ which I test drove at a car dealer in Kent, it is a hybrid petrol-electric sports car which does over 50mpg and 0-60mph in less than 9 seconds.
