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Graeme Chaplin, the Bank of England’s Agent in the West Midlands, met members of the Coventry and Warwickshire Chamber of Commerce on a virtual roundtable to up
Car retailers are expected to shrug off the key performance indicators (KPIs) of the past as they prepare for a 2023 economy which will see recessionary consumer spending habits layered on top of ongoing vehicle supply issues.
The automotive sector will be able to “grow and thrive” despite a whole list of issues facing the sector in a challenging 2023, the Vehicle Remarketing Association (VRA) has said.
The automotive retail sector’s supply issues and buoyant used car residual values have been described as a “happy accident” preventing the motor finance sector from “blowing up”.
The Bank of England is battling to reduce inflation in the UK from the high and harmful levels it has reached in 2022, and members of the Vehicle Remarketing Association heard first hand about its methods this week.