Automotive business insolvencies increases
4 November 2008
The number of insolvencies in the automotive industry rose by 18 per cent during Q3 2008 compared to the same period last year, according to the latest figures from Experian, the global information services company.

Business failures in all industries throughout the UK saw an increase of 28.2 per cent during Q3 2008. Of the 36 industries analysed by Experian, the automotive industry saw the 17th highest number of insolvencies, with 67 businesses failing.

Kirk Fletcher, Managing Director of Experian's Automotive division, said: "Our analysis highlights why it is important for automotive businesses to know that their customers and suppliers have the means to pay their bills.

"The best way for automotive businesses to protect themselves is by continually monitoring customers' and suppliers' commercial integrity. Access to this level of detailed insight will provide them with the intelligence to help them manage their exposure to risk."

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