UK Auto Industry
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Latest news on UK auto industry
As per latest news on UK auto industry Honda is stopping production at its Swindon outlet during April and May 2009. This has been done in response to decreasing demand of cars among consumers across Europe. Production would stop in May for a fortnight and in April for 20 days for bringing down volume of output. As of now, Honda employees at Swindon are safe from loss of jobs.
Future of UK auto industry
A number of car making companies in United Kingdom are having to take drastic measures in face of heightening global crisis. Major car making establishments of auto industry like Honda are reducing their production levels for matching gradually decreasing demand for cars across Europe. Honda has been expecting that its production in 2009 would come down to 175,000 vehicles from 228,000 from 2008.
Governmental efforts for UK automobile industry
Various ministers of major economies in Europe met in Brussels on 16th of January, 2009 in order to discuss several measures that would help improve sorry situation of car markets across Europe. One main agenda at their meeting was chances of failure of European car markets and industries to survive this lean phase. They are thinking of providing tax benefits to people who sell off their old cars. Such measures are supposed to be introduced in automobile industry of UK.
Condition of sales in auto industry of UK
As of 2008 condition of sales of United Kingdom is relatively perilous as sales have gone down by 8 percent. This has prompted discussions, among higher circles of European Union think tank, regarding potential of UK auto industry to survive this critical financial phase. Gunter Verheugen, European Industry Commissioner, has said that in 2009 there would be a 20 percent decline in car sales in Europe and United Kingdom car market would be affected as well.
Job crisis in UK auto industry
This financial crisis would affect job scenario in UK auto industry. Many employees may be sacked in order to cope up with losses. Nissan is supposed to sack 1,200 people from its Sunderland outlet. This is first time that a permanent cost reduction drive of this magnitude is happening in UK after Nissan opened operations in 1986 at this country.
