Is the car industry back on its feet?
Today's news that General Motors is repaying £5.3 billion in emergency US government loans and Chrysler has moved back into operating profit is welcome good news for sector which has been on a downward spiral for some time. There is a growing belief that the financial position of the leading car manufacturers in the world has improved dramatically over the last few months although at the moment this has not been reflected in the UK marketplace.
The manufacture of cars in the UK has been a dying business for many years now with the government accused of lacking forward thinking and forward planning in this particular area. However, while we have seen a number of overseas companies such as Nissan making use of very lucrative and sizable taxpayer assistance, on the whole it has been difficult to maintain the industry at the size it is now, even if it is somewhat reduced from years gone by.
On a positive note, the opinion of those in the car industry regarding the government's car scrappage scheme has been very upbeat and many believe he will see the scheme reintroduced by the next UK government in the short to medium term. But will this be enough to save the UK car industry?
Share this..
Related stories
Rate of advertising decline is slowing
While it would be wrong to say that the UK advertising market has in any way shape or form recovered, there are signs that the slowdown may be reducing in pace. The Daily Mail and General Trust (DMGT) today reported a 12% decline in revenues in the quarter ended June 2009 against a 23% fall in the previous quarter. Even though business is still under severe pressure, cost-cutting which was impleme...
Read MoreUK government promises jam tomorrow, again!
As the US economy heads out of recession and into a new growth phase, the UK government is under more and more pressure to turn around the UK economy. Despite the fact that Gordon Brown had indicated the UK would turn around in the second quarter of 2009 we have yet to see any evidence of this recovery and indeed MPs are now suggesting it will be the latter part of 2009 before we see any material...
Read MoreUK car industry takes another body blow
On the surface, the move to consolidate Jaguars manufacturing capacity in the UK by a closing one factory over the next few years would seem little to be concerned about, with no job losses expected, the unions say it is actually a major issue. It is not certain as yet which of the Jaguar manufacturing plants will be closed although it is certain the plant will be located in the West Midlands, the...
Read MoreUK economic recovery at “critical” stage
09/10/2014 The UK economic recovery is under threat from the potential of another Eurozone recession, chancellor George Osborne has warned. The chancellor said that the UK economy is at a “critical” stage in its recovery, and would be left vulnerable if the Eurozone suffers another financial crisis. Recent figures have suggested that the Eurozone economy is struggling at the moment, a...
Read MoreUse protection, urged CIFAS
To coincide with the UK's third annual National Identity Fraud Prevention Week, CIFAS, the UK's fraud prevention service, is urging consumers to use protection to prevent themselves from becoming victims.According to the Home Office, identity fraud is costing a shocking £1.7 billion every year, but many people are ignoring the risks, with recent research showing that as many as 80 per cent of hou...
Read More