Car output increases for fourth consecutive month

By Matthew Plant - Financial specialist

New car production rose by 62.7% in February, compared with the same time last year, according to new statistics from the Society of Motor Manufacturers and Traders (SMMT).

It was the fourth successive monthly increase in car output, the SMMT added.

SMMT chief executive Paul Everitt said: "The fourth month of consecutive growth in new car production is encouraging news for industry. Manufacturers and government need to work together to ensure that there is continued investment in new products and technology to sustain future growth."

A car finance expert at Think Money said that increasing availability of car loans over recent months may have helped boost demand for cars.

"In the past, a lack of availability of car loans held back many would-be buyers - but we`re seeing some encouraging figures these days."

Tags: car, cars, SMMT, Society of Motor Manufacturers and Traders

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