Recent headlines have suggested the motor industry in the UK is in meltdown. First, BMW walked away from its Rover subsidiary. That was followed by Ford's decision to end car production at Dagenham next year. Then Vauxhall chipped in with a similar proposal for its Luton factory. These contractions were in part shaped by the damage done to exports by the strength of sterling, as all but one of the country's main car producers - Peugeot - dropped into deficit. Closer examination, though, reveals a more encouraging outlook. Report by Richard Feast.