Over Elm. a Day from Exports
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IN his first address as president of the / Society of Motor Manufacturers and Traders, Mr. A. B. Waring told the council of the Society, last Thursday, that the British motor industry had a heartening tale to tell.
"Recent news has been of record output and rising exports," he said.
Just over a half of our very substantial production of motor vehicles of all types goes overseas, and the whole industry earns for this country overseas exchange at the astonishing rate of over Elm. every working day.
"Nothing could be more expressive," continued Mr. Waring, "of the value of our industry in improving the country's economy and its vigour in meeting the keenest competition from foreign competitors."
He called for realistic action for the improvement of "our wretched main roads," and said that expansion was still hampered by the unreasonably high level of purchase tax and fuel tax.
Those factors had a direct connection with production costs, a reduction in which was of the utmost advantage in the industry's drive to meet growing competition from aboard.