Motor Trade Insurance

Job Losses In The Motor Trade Industry

June 18, 2020 by Logan Biggs

It will probably not come as a surprise to read that there will be job losses here in the UK within the motor trade industry no doubt due in part to the impact the coronavirus pandemic has had. Needless to say, this is disappointing news and let us hope that all those affected are able to obtain alternative forms of employment very quickly albeit there may not be much opportunity within the motor trade industry.

Apparently, for instance, Lookers has regrettably announced that it intends to lose around 1,500 jobs, Aston Martin about 500 job losses and Bentley in the region of 1,000 job losses. These job losses will no doubt be across more than one sector of the motor trade industry.

When you consider that various sectors of the motor trade industry has produced concerning figures in recent weeks it is not surprising that some people will lose their jobs. For example, with the huge reduction in the sale of new cars seen in the last few weeks, this may well lead to some people loosing their jobs in car showrooms in various parts of the UK. It will be interesting to see if the Government introduces something to help kick-start the motor trade industry. For instance, would the Government consider reducing the amount of tax payable on a new car?

Of course, if there are fewer new cars being sold here in the UK then less need to be built. This could result in there being a lower requirement in the number of car components thus impacting on companies that manufacture those parts. This could lead to job losses in a number of businesses that supply the motor trade industry. If there are fewer new cars on the road then will there be a reduction in the number of new tyres that are required?

We will continue to update our readers with things that impact on the motor trade industry whether they be positive or negative things.

No Comments »

No comments yet.

Leave a comment

Mailing List

To get the latest news and offers from MTI, enter your email below.

Subscribe to the Mailing List
FacebookTwitterGoogle PlusLinked In