Car Output Crashes
Domestic demand for British cars has fallen for the fifth consecutive month with figures showing a 14% drop for the year so far. Business and consumer confidence is falling and the automotive market is one of many to see the impact.
Industry leaders initially thought that the recent toxicity charge London Mayor Sadiq Khan introduced was the instigator, and believed it was discouraging consumers from purchasing diesel vehicles. However the Society of Motor Manufactures and Traders (SMMT) sees more to it and even suggests Brexit as a factor.
This should be no surprise; with staunch competition from international automotive companies and Britain facing a surge in the price of new cars from Europe, consumer interest in our domestic cars needs to rise.
SMMT chief executive Mike Hawes feared uncertainty over Brexit, describing it as “the greatest challenge of our times”. “We urge government to deliver on its commitments and safeguard the competitiveness of the industry”.
In other areas, figures released last month showed that overall there had been growth in the manufacturing sector in Britain. The Purchasing Managers Index (PMI) found that production increased at the fastest pace for seven months in August with an increase in demand from the domestic market.
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
Keep up to date with the latest news by following us on social media:-
What can CPA do for you?
Read our blog – The Hidden cost of slower payers.
Read Our Blog – How to overcome common excuses for non-payment
Read our blog – Debt collection agency
Read our Cash Flow Advice
Read about our overdue account recovery service
Read our blog – What is credit management?
Read our blog -What is a credit management company?
Read our blog -Credit Management that works!
Read our blog – How to select a debt collection agency
click to see read about our successes
Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.