In a special article for Motor Industry Magazine, Professor Garel Rhys sets out his view on what will drive and influence the industry in the months ahead. In my presidential address at the IMI Dinner in early 2008, 1 forecast that the UK economy would enter a recession and it would be the worst since the pre-war period. Some people heeded this, others wished they had. The forecast was that recovery to the pre-recession level of national income would not occur until 2013/14. This was the same for the UK vehicle markets and indeed the "local" peak of 2006" would not be seen until 2018. If a double dip occurred then the vehicle market would not get back to pre-recessional levels until 2016. Unfortunately all of this is likely to be borne out.
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