The Car Hub

Big question for the UK motoring industry is whether Vince Cable has really put the brakes on the budding green car development industry in the UK.
At a business summit meeting today with the SMMT (the Society of Motoring Manufacturers and Traders) Mr Cable informed the industry that the new government will be “reining-in the financial support for the sector”.
However in true government double speak Mr Cable has left hope for the investment into research of carbon reducing technology via his statement that the government does not envisage investing in individual companies which hopefully interprets into funding availability for more national outfits of one shape or another.
Of particular concern to the meeting was the previous government’s subsidy of £5,000 for the purchase of every pure electric car, which Mr Cable at this time could not commit to.
During a television interview at the summit meeting Paul Everitt, the Chief Executive of the SMMT, stated categorically that electric cars just would not sell on the open market without the subsidy.
So there you have it, the government wants to cut back on investment into electric car producing companies, this could damage the UK development of electric cars, which is becoming an important sector in the overall car market and at the same time possibly withdraw a subsidy to buyers to obtain these cars which help to provide new jobs at a time of economic crisis.
If any foreign car makers have noted this report they’ll be laughing all the way to their banks.
Bill Williams