Photo of the Day: Cars-in-waiting

 

Cars waiting to be sold in the UK

This picture, taken from The Guardian, shows Nissan cars waiting to be sold in the UK. Demand for cars globally has plummeted forcing producers to cut production. In the UK only, car production was halved in December 2008. As a result, global steel production fell for the first time in ten years.

Meanwhile, Fiat continues its rise with rumours suggesting that it might merge with French carmaker Peugeot.

When will situation improve? It may take 2 – 3 years – argues steel giant

Steel giant Nippon Steel today argued that the global steel industry may well take two to three years to recover from the current economic downturn, Reuters reports.

The company’s announcement comes as one of its top clients, Toyota, is seeking to reduce its orders for steel.

So, with the car industry and steel industry feeling the brunt of the global economic downturn, which sectors should an investor eye?

The Baring Global Agriculture Fund and fund manager Managing Partners’ British Property Opportunities Fund are two options, argues William Kay in an article appearing on today’s The Sunday Times.

He also reminds readers to start thinkng aobut their retirement plans early as research shows that one in every four of today’s 55-year-olds in the UK is expected to live till 95.