Fe of British motor cars this year are now virtually certain to be e lowest since 1962, Even if shipments during 0c seex-December match ie to last year's figures, this would still bring sue total for the year et a cars exnorted, compared with a record 60,000 in 1964 and Fe in ast year. The exemple from the past which sti? Yrightens the
ry is the experience of the last credit squeeze when export plummeted fe) 371,000 in 1961. Throughout the car industry the following complaints are now being repeatedly emphasised,
by Pat Jordan
1. ‘The industry already had the physical capacity to support higher export sales and the restrictions were therefore unnecessary. 2. With profits depending entirely on home sales the squeeze is immed~ iately hitting companies' profits and this will delay the introduction of next year's models, 3. In addition to the manufacturers' checks on their own investment, were is alarm that the component suppliers will now dig their heels in also.