Worldwide car production soars
- Some markets increase by 70%
- UK at leading edge of recovery
- Increase reflects depth of downturn, though
Worldwide car production has soared by more than 50% in the first three months of this year, according to figures from the Financial Times.
The rise in production comes in spite of forecasts from car data specialists JD Power that sales in mature markets would not return to 2008 levels before 2014.
The end of the downturn?
While total global figures revealed a 57% increase in car production, in Canada, China, Japan, Mexico and the UK, the year-on-year increase was in excess of 70%.
The figures, alongside announcements of big investment plans from Fiat, Ford and Volkswagen, go a long way to confirm the belief that the worst of the global downturn is over for the motor industry.
Or a temporary respite?
Many industry experts believe the large increases in production are only a reflection of how far the market fell during the depths of the recession 12 months ago.
Sales are also expected to fall by at least a tenth by the end of the year as scrappage schemes around the world finish.
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