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24/04/2009
The number of vehicles built in the UK was down by more than half in the first quarter of the year, new statistics show.
March figures from the Society of Motor Manufacturers and Traders (SMMT) reveal that production during the month fell by 51.3% compared to March 2008. Carmakers turned out 61,829 vehicles, down from 127,064 in March 2008.
Over the first three months of the year, car production slumped from 421,531 to 183,010 - a year-on-year fall of 56.6%.
SMMT chief executive Paul Everitt said that the figures showed a need for "urgent action" to lift the industry.
Referring to the recently-announced scrappage scheme as "an important first step", he added: "Efforts to restore confidence and improve access to finance, particularly for companies in the supply chain, are key to sustaining our industrial capability.
"The motor industry has an essential role in the UK's economic future, but it will be some months before we see any significant increase in output."
Meanwhile, Fiat chief executive Sergio Marchionne has reportedly said that the Italian carmaker would take a "hard look" at buying General Motors' Vauxhall and Opel operations if the opportunity arose.
The troubled US car-making giant faces a 1 June deadline to restructure or face bankruptcy. GM chief executive Fritz Henderson has said that the company has approached more than six potential buyers for its European operations.
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