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SMMT: Decline will go on

2nd November 1985
Page 7
Page 7, 2nd November 1985 — SMMT: Decline will go on
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Which of the following most accurately describes the problem?

THERE are few signs of a 10-year decline in the UK motor industry being reversed in the future, judging by a Society of Motor Manufacturers and Traders conference in London last week.

According to one of the key speakers, Bob Barber of stockbroker Phillips and Drew, the total UK commercial vehicle market this year will reach 282,000 units, only five per cent up on last year, with sales of imported vehicles growing by eight per cent to 105,000.

And next year, he forecasts that the total market will decline by two per cent, and that the share taken by imported vehicles will fall by the same amount.

He expects total UK commercial vehicle production, including production for export, next year to fall by six per cent, continuing the trend of the past 10 years.

Between 1974 and 1984 the number of vehicles produced for the home and export markets has fallen by 44 per cent, from 403,000 to 225,(X)0.

Exports have suffered particularly badly, with a 71 per cent decline over that period. In the same period, sales of imported vehicles have increased by 194 per cent.

Barber said that he found the surprising increases in stock levels of vehicles to be "a worrying figure".

By the end of this year, stock levels of UK-built vehicles will have increased by 15 per cent, compared with last year, and he forecasts that next year will see a further two per cent increase.

The next "cyclical bottom" in the UK market will occur in 1987, Barber believes.

Tags

People: Bob Barber
Locations: London

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