Vertu Motors, a prominent car dealership operating 198 sites in the UK, is set to close showrooms this Sunday and reduce its workforce by 15 to 20% due to a projected £10 million increase in its wage bill, a direct consequence of recent budget changes by Chancellor Rachel Reeves. The company's chief executive attributed the challenges to rising national insurance contributions and minimum wage increases, alongside government policies like the ZEV Mandate, which he believes are disrupting the market and economic growth.
The Government and the industry need to get together to address the root cause of the issues to allow the automotive sector in the UK to return to its traditional role of stimulating economic growth.
The Government's ZEV Mandate is causing severe disruption to the UK new car market, and the consumer environment is subdued.
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