§ Mr. Austin MitchellTo ask the President of the Board of Trade what was the import share of the United Kingdom car market in February; which countries gained most from the change compared to last year; what was the movement in the rate of exchange during those 12 months; and if he will make a statement indicating why the share changed.
§ Mr. NeedhamThe information regarding the import share of the United Kingdom car market is in the table:
209WInformation on the rate of exchange is regularly published in table 7.1A of the Central Statistical Office's "Financial Statistics", a copy of which is available in the Library of the House.
Trade in the motor industry is determined by market forces and consumer preference. New car sales in Europe as a whole are still depressed, and manufacturers are stepping up their efforts in the United Kingdom, which is currently one of the few expanding markets available. The number of United Kingdom-produced cars registered in February 1994 was still 5.4 per cent. higher than that of February 1993.