F&I Management & Training

Consumer confidence in car-buying could receive a boost as a result of the Government's public show of support for the motor industry,' according to Sue Robinson, Director of the Retail Motor Industry Federation (RMIF), representing 8,000 retail motor sector businesses, commenting on the car industry support measures announced by Business Secretary Lord Mandelson yesterday (Tuesday 27 January 2009) in the House of Lords. The support package includes a scheme to unlock £1.3bn of loans from Europe for car manufacturers and major suppliers. He said the government would also guarantee up to £1bn of further loans. 'This investment in the industry should send the right message to consumers, endorsing the availability of credit and the excellent deals in the showroom,' added Robinson. Following his statement, Lord Mandelson made reference to a self financing scrappage scheme that would encourage motorists to dispose of older and more polluting vehicles, in favour of newer vehicles. Robinson observed: 'The proposition that the UK should adopt a self-financing scrappage policy was first proposed by RMIF Chairman Paul Williams on behalf of the RMIF at our meeting with Lord Mandelson in November 2008. The RMIF will shortly be presenting a paper to Government that puts the case for a self-financing Scrappage Scheme in the UK that mirrors those successfully adopted in other EU states. '

DATED: 29.01.09

FEED: AW