Interest Rate Rise: Salt In The Wound For Retail Motor Industry, Says RMIF

‘The latest interest rate rise is bound to have a negative impact on our members,’ said Matthew Carrington, Retail Motor Industry Federation (RMIF) Chief Executive, commenting on the raising of interest rates by a quarter of a percentage point to 4.75 per cent.

He continued: ‘Profitability is at a very low level within the industry, and this will rub salt into the wound for our members. Also, as consumers tighten their belts with regard to mortgage payments, their disposable income will not seem quite as disposable. It is inevitable that selling cars, both new and used, will become more difficult.’

6 August 2006 Staff

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