The Society of Motor Manufacturers and Traders (SMMT) has called on the government to help fleets maintain their purchasing rates in the face of the credit crunch. Speaking on Radio 5 Live, SMMT chief executive Paul Everitt said the whole automotive sector is struggling due to a 20% drop in demand and an inability to get finance through the normal channels.
"We want relatively short-term access to financing in the same way the banks have,
and tax breaks to help the sector through this difficult period."
Everitt added: "We would like an extension of the existing capital allowances to encourage larger fleet buyers in the commercial vehicle sector to continue with their normal rate of fleet renewal. "These fleet buyers are unable to gain access to finance, and the dealership and manufacturers cannot access finance to help them with their purchases in the normal way."
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