Philippe Talou-Derible, Renault UK managing director, meanwhile has taken a swipe at the UK Government for its constant interference in the motor industry.
He claims the issue over new car transaction prices has been mis-understood by people who have not grasped simple economics over the cost of living.
“As a percentage of average salary, prices in the UK are very competitive compared to mainland Europe,” says Talou-Derible. “It is already hard for large dealers in London to operate at a profit, which means it is left for the manufacturer to own stores in this territory.
“The Government is responsible for perpetuating the problem – if they could stay away it would help.”