Emergency budget: industry comment

“The Budget was advertised as being a tough one and that has turned out to be very much the case. As far as the motor industry is concerned, the overwhelming worry is the effect that it might have on the slow recovery that we have seen over the last few months. Will measures such as increased VAT and frozen public sector wages mean that retail and fleet customers are more likely to keep their wallets in their pockets and make do with their existing car for a little longer yet? We believe in this economic climate that warranty, service plan and asset protection products will continue to see increased levels of popularity as dealers and manufacturers seek to overcome any lack of confidence on the part of the buyer by ensuring that they have credible ‘safety net’ products in place. It is all about providing the customer with a complete package that provides the automotive peace of mind needed to make a purchase.”