Car manufacturers can survive and thrive if they take the right decisions now, Lord Mandelson has said.
These are a combination of cutting back in response to their former over-supply and over-production, in the face of extreme loss of demand, and investment in future markets and future products, he said.
The Business Secretary was speaking ahead of a visit to the Nissan car plant in Sunderland where a new model will be built next year despite job losses.
“They employ very, very many people, so their survival is important, and they will survive, they will thrive in the future, as long as they make the right decisions now.”
Nissan’s Sunderland operation is Europe’s most productive car plant. The Business Secretary will see for himself a concept version of the new Qazana model which will go into production next year.
Mandelson said “we’re going to make sure that where these companies are viable going concerns - and that is the overwhelming majority of them - they do have a future.”
The government has announced a loan guarantee scheme for auto companies and is looking at further measures to help auto firms, their suppliers and finance arms.
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