Cautious approach from car company

Despite a bold start to the year and booming annual profits, Car dealer Lookers are planning a cautious 2008 and haven’t yet ruled out the possibility of redundancies.

The car finance news accompanies reports that Pendragon (the largest car dealer in the UK) axed 500 jobs last week. Manchester-based Lookers admitted that the influence on the car market was affecting business.

The slowdown in car sales has hit the majority of car dealers in the UK, despite Motorpoint claiming record car finance sales this week. Lookers blamed widespread consumer slowdown, higher fuel prices and the credit crunch for slowing both new and used car sales.

Lookers has been in business for 100 years, and is one of the oldest car dealerships in the UK.

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Cautious approach from car company

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