By Emmanuel Oluebube, Correspondent UK
The news from the Society of Motor Manufacturers and Traders (SMMT) that UK car manufacturing plunged by 44.6 per cent in August, has got analysts reacting.
Automotive Analyst at GlobalData, a leading data and analytics company, David Leggett offers his view: “On the upside, we have seen a solid manufacturing restart in Britain’s car industry since the spring, but this latest data is a reminder that car plants in the UK are still operating way below pre-crisis norms due to weak export demand around the world.
“2020 is a year that the auto industry will want to quickly move on from. GlobalData forecasts that the global light vehicle market in 2020 will turn out down by 16.6 per cent at 74.2 million units – a much sharper decline than that posted during the financial crisis and recession of 2008/9.
“The recovery of global sales in recent months is being underpinned by government support in many markets and this needs to continue if the global vehicle market is to hit 74 million units this year.
“For UK manufacturers, domestic demand prospects are also uncertain in the face of a tightening of population restrictions and subsequent impacts to confidence and the wider economy in the coming months.”
