RMIF: Government moves could boost consumer confidence
RMIF: Government moves could boost consumer confidence
Consumer confidence in purchasing cars could see a boost thanks to new government support to the automotive industry, it has been claimed.
Commenting on Lord Mandelson's proposed £2.3 billion rescue package to help the flagging industry, Retail Motor Industry Federation (RMIF) director Sue Robinson claimed that consumers will ultimately benefit.
She said: "This investment in the industry should send the right message to consumers, endorsing the availability of credit and the excellent deals in the showroom."
Lord Mandelson's proposals will unlock £1.3 billion worth of loans from Europe for car manufacturers and suppliers, as well as a government guarantee of £1 billion of further loans.
This comes after the RMIF recently called on the government to help revive consumer confidence.
Ms Robinson then claimed that its £21 billion guarantee of bank lending to small and medium-sized businesses would not be enough to help them stay afloat amid the current financial crisis.
Visit the #1 Motor Trade Insurance page