Insolvencies among UK car dealers have doubled this year, according to a new report.
Uncertainties will continue for dealerships long after the UK comes out of the recession, said the report accountant Ernst & Young.
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More car dealers close in recession
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Car sales rev up to festive season
The festive season this year has given the recession-struck city car dealers a new lease of life with more customers flowing in for purchases. According to various car dealers in the city the car sales have jumped by 40 per cent from what it was in the last three months.
What’s cheering dealers is the fact that not only are the customers buying cars, they are also not settling for base models or regular cars. “All kinds of cars from Swift to Wagon R to Ritz, all categories are selling this season. The customers do not seem to be bothered by the recession and the salary cuts when it comes to buying cars this festive season,” Tapan Ghosh, regional manager, Maruti told ‘TOI’, adding that in the past one month the company has grown by 4 per cent despite recession. This being just the beginning of the festive season, Ghosh said that the company would expect more sales on Vijaya Dasami day, and later just before Diwali.
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