Industry News from Yes Insurance

There was a slight decrease in the number of automobiles produced over the course of May, new figures have shown.

But the statistics, produced by the Society of Motor Manufacturers and Traders (SMMT), reveal that the outlook for 2008 remains positive.

Some 118,866 cars were developed during the month, down 7.5 per cent but contributing to the year's total of 693,123 units.

In addition, the automotive body stated that there were 6.1 per cent fewer vans produced over the time period, with 17,702 new vehicles being rolled out around the UK.

"Commercial vehicle output continued its upward trend in May, with the main growth in exports ... Year-to-date, production was up ten per cent compared to 2007 and the 12 month rolling total is at 224,813 units," said SMMT chief executive Paul Everitt.

Paul Everitt replaced former SMMT chief executive Christopher MacGowan at the turn of the year.

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