CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow "Brexit is an inflection point in the market"- SMMT comment
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
"Brexit is an inflection point in the market"- SMMT comment PDF Print E-mail
Thursday, 28 July 2016
Chris Bosworth, Director of Strategy at Close Brothers Motor Finance, comments on the SMMT UK monthly automotive manufacturing figures for June:   “Production in the car manufacturing industry has been going up through the gears for almost a year now, as new models, more plant capacity and increased utilisation of that capacity has expanded the UK’s car making proficiency. A growth spurt since the end of last summer has seen year on year production volumes climb to a high of 1.75 million, but a number of factors suggest this momentum may be short lived.

“We’re yet to see the full effect of the Brexit vote, but any reduction in finance subsidies and the possible relocation of manufacturing plants would likely lead to production volumes falling. The UK is home to seven foreign volume car manufacturers, many drawn by both the attractive price of metal and proximity to Europe, so any disruption may see car prices climb in showrooms.

“The Brexit decision comes at what is already something of an inflection point for the car market. A steady flood of new cars entering the market has built up a wave of used vehicles, and these two or three-year-old cars will soon be returning to forecourts. According to the FLA, used car vehicle finance grew by 15% year on year during the first quarter, and as consumers gravitate to well-priced ‘nearly-new’ stock, it will only exacerbate any demand side pressures on UK car manufacturers.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197