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New car production 'more than halved'

20/02/2009

New car production in the UK has fallen by nearly 60% compared to this time last year, new figures reveal.

Statistics from the Society of Motor Manufacturers and Traders (SMMT) show that the number of cars produced in January was down by 58.7% compared to January 2008, and that commercial vehicle production dropped by 59.9%.

SMMT chief executive Paul Everitt said: "The extent of the decline highlights the critical need for further Government action to deliver the measures already announced and ease access to finance and credit."

Meanwhile, loss-making Swedish car maker Saab has filed for reorganisation in Sweden, which would protect it from creditors while it again becomes an independent car maker.

Earlier this week, the firm's owners General Motors said that it planned to make Saab independent by 2010 as part of its own efforts to survive the global sales downturn.

Saab managing director Jan Ake Jonsson explained that the company had three new models ready for launch over the next 18 months, adding: "Saab has an excellent foundation for strong growth, assuming we can get the funding to complete engineering, tooling and manage launch costs."

The company stressed that it would continue to operate "as usual", while funding was sought both from private and Swedish public sources.

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