Automotive insolvency rises, in the face of economic crisis
Motoring business insolvencies rose 18 per cent during quarter three of 2008 compared to the same period last year, according to figures released by global information services company, Experian.
While business failures in all industries throughout the UK saw an increase of 28.2 per cent, of the 36 industries analysed by Experian, the automotive industry came in at 17th place for the highest number of insolvencies per industry with 67 businesses failing.
Kirk Fletcher, Managing Director of Experian’s Automotive division, said;
“The best way for automotive businesses to protect themselves is by continually monitoring customers’ and suppliers’ commercial integrity. Access to this level of detailed insight will provide them with the intelligence to help them manage their exposure to risk.”
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