Thursday, October 25, 2007
Car dealers urged to exercise financial caution
Automotive real estate company Gilbran has advised dealers to review their financing arrangements and reconsider business goals during the ongoing “credit crunch”.
“The recent turmoil in the credit markets will almost certainly filter through to hit consumer confidence and ultimately impact on dealers' businesses,” said Gilbran's managing director Nigel Smith.
As well as affecting sales, an increase in interest costs will make it harder for dealers to raise money for future business plans through banks or the capital markets, the company said.
DATED: 25.10.07
FEED: MT
