The latest figures produced by the Society of Motor Manufacturers and Traders showed that there is no end in sight to the gloom that has engulfed the industry since last Autumn.
Months of lay-offs, factory shutdowns and shift cuts have led to a 59 per cent fall in February compared to the same time last year.
So, we\’ve got the head of the car makers organisation showing us how terrible things are while he\’s arguing for the taxpayers to bail his members out.
However, we\’re not told the details….part of which is that several of the largest manufacturers have simply idled their factories. The workforce is still getting paid, the resources, installations, human capital are all being preserved. Things are already being managed without that bailout.
Somewhat lessens the argument for the bailout, doesn\’t it?