Credit issues could worsen for car manufacturing
Research from the Confederation of British Industry (CBI) shows that the car manufacturing industry is not alone in its problems relating to the acquisition of credit.
Figures published yesterday (February 9th) show that almost two thirds (63 per cent) of businesses in the UK experienced problems obtaining credit in the past three months.
Crucially, fifty nine per cent of UK businesses also expect the situation to worsen in the coming three months.
Richard Lambert, CBI director general, said: "We have urged the government to move as quickly as possible to set out when the various support packages to tackle the credit crunch will come into effect, and to implement them quickly.
"Day by day, constrained credit is damaging our economy. A lack of clarity creates a 'fear the worst' mentality and could be costing people their jobs."
Car fleet managers could be paying more or waiting longer for new car fleets should the issues begin to affect the production of new car models.
Already, Kwik Fit has reported that car fleet managers are extending the lifecycles of their car fleets in order to save money during the current recession, and so delays to car manufacturing could be a costly addition at an-already precarious time for managers.
