Lack of finance hurting car dealers

Mon, 16 Nov 2009



According to a recent study by the British Chambers of Commerce, the BBC found that some 33% of companies have found it difficult to access finance during the last three months. Motor Trader and Baker Tilly canvassed car dealers in the UK.

According to the vehicle finance study, over a third of dealers found that a lack of available car finance had caused the annual declines in car sales, whilst 66 per cent believed lack of demand to be the reason.

Speaking about the situation for companies throughout the economy, BCC director general David Frost reportedly commented: "Our latest survey results show that the biggest issue facing British businesses is still demand for products and services. This means that any economic recovery is still fragile. It is clear that the huge sums that have been injected into the financial system by quantitative easing are still not reaching small and medium-sized businesses in anything like the scale required for business to invest for future success."
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