Car sales head for record fuelled by 0% loans
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Car sales head for record fuelled by 0% loans
The Brit press hate good news and try spread as much doom and gloom as possible but to a returning Pom this is a God send.
Even though new car prices are Higher in the UK this balances that out plus creates work in Engineering.
Car sales in Britain could be set for another record year as new registrations exceeded expectations and reached a historic peak last month, it emerged yesterday.
Heavy discounts, including the 0% financing imported from the US, helped sales in July rise 0.6% on last year to a record 196,762 vehicles. A similar record was set in June.
The booming car market, outpacing the housing market where first-time buyers are at a historic low, is helping British manufacturing recover but is prompting renewed concerns about consumer spending.
Christopher Macgowan, chief executive of the society of motor manufacturers (SMMT), said: "We now expect the year to close just under the 2002 total, at 2.52m units, making 2003 the second highest year on record."
Even though new car prices are Higher in the UK this balances that out plus creates work in Engineering.
Car sales in Britain could be set for another record year as new registrations exceeded expectations and reached a historic peak last month, it emerged yesterday.
Heavy discounts, including the 0% financing imported from the US, helped sales in July rise 0.6% on last year to a record 196,762 vehicles. A similar record was set in June.
The booming car market, outpacing the housing market where first-time buyers are at a historic low, is helping British manufacturing recover but is prompting renewed concerns about consumer spending.
Christopher Macgowan, chief executive of the society of motor manufacturers (SMMT), said: "We now expect the year to close just under the 2002 total, at 2.52m units, making 2003 the second highest year on record."
Last edited by pommie bastard; Aug 13th 2003 at 3:39 am.
#2
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Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Re: Car sales head for record fuelled by 0% loans
Happy days are here again , strange how tales of woe in the UK never mention the bright spots.
Toyota will give the government and manufacturing sector a fillip today when it unveils plans to create 1,000 jobs at its plant at Burnaston in Derbyshire.
The Japanese car maker plans to introduce a third shift at the factory to boost production of the new Avensis and Corolla models from 220,000 to 270,000 a year.
The expansion is significant because Toyota has been critical in the past about the productivity of British workers and about the government's unwillingness to commit itself to the euro.
The decision to raise investment above the £1.7bn already spent in Britain over the past decade was greeted with enthusiasm by the trade and industry secretary, Patricia Hewitt. "I am delighted that Toyota have chosen to break new ground in the UK through the introduction of a third shift at their Derbyshire plant," she said.
"This will increase productivity and enable the new Avensis to be exported to Japan. This investment demonstrates that the UK automotive industry is in a good position to succeed in a com petitive global environment."
Recruitment will start almost immediately for the third shift which will begin in the second quarter of 2004. The company has also unveiled plans to introduce a third shift during the same period at its Valenciennes plant in northern France.
Kosuke Shiramizu, a member of the Toyota main board. said in March that Burnaston was 20% less productive than the French plant and that continental workers "tend to work harder."
British Toyota bosses distanced themselves from those comments. Yesterday there were only positive words for Derbyshire. "The increase of production in the UK represents a further endorsement of the commitmentof our members to building quality vehicles for our customers in Europe and later this year in Japan," said Bryan Jackson, deputy managing director of Toyota Manufacturing UK.
In contrast to the position with many of the world's other car manufacturers, Toyota has been going through a good patch, selling a record 212,069 vehicles in Europe during the first quarter, an increase of 4% over the corresponding period 12 months earlier.
Toyota will give the government and manufacturing sector a fillip today when it unveils plans to create 1,000 jobs at its plant at Burnaston in Derbyshire.
The Japanese car maker plans to introduce a third shift at the factory to boost production of the new Avensis and Corolla models from 220,000 to 270,000 a year.
The expansion is significant because Toyota has been critical in the past about the productivity of British workers and about the government's unwillingness to commit itself to the euro.
The decision to raise investment above the £1.7bn already spent in Britain over the past decade was greeted with enthusiasm by the trade and industry secretary, Patricia Hewitt. "I am delighted that Toyota have chosen to break new ground in the UK through the introduction of a third shift at their Derbyshire plant," she said.
"This will increase productivity and enable the new Avensis to be exported to Japan. This investment demonstrates that the UK automotive industry is in a good position to succeed in a com petitive global environment."
Recruitment will start almost immediately for the third shift which will begin in the second quarter of 2004. The company has also unveiled plans to introduce a third shift during the same period at its Valenciennes plant in northern France.
Kosuke Shiramizu, a member of the Toyota main board. said in March that Burnaston was 20% less productive than the French plant and that continental workers "tend to work harder."
British Toyota bosses distanced themselves from those comments. Yesterday there were only positive words for Derbyshire. "The increase of production in the UK represents a further endorsement of the commitmentof our members to building quality vehicles for our customers in Europe and later this year in Japan," said Bryan Jackson, deputy managing director of Toyota Manufacturing UK.
In contrast to the position with many of the world's other car manufacturers, Toyota has been going through a good patch, selling a record 212,069 vehicles in Europe during the first quarter, an increase of 4% over the corresponding period 12 months earlier.