Its Board met last week to agree a restructuring plan that will reduce overheads and bring in extra revenue by charging members for certain services, such as detailed legal advice. AM understands up to 10% of its 350-strong workforce will lose their jobs.
The trade body made a £1.6m loss last year, and has a £5.6m shortfall in its pension scheme. Subscriptions also declined 6% in the same period.
Industry observers had considered Carrington’s position in jeopardy following the RMI’s financial problems. However, he still has the board’s backing and has been charged with making the RMI “a true champion” of both its members and consumers.
“We may have to upset some people in the future but we can’t be afraid of that if we are to better serve our members,” says Carrington.
The RMI is holding five half-day roadshows in October and November for franchised dealers.
These will discuss abolition of the location clause, Government proposals for online vehicle tracking, and market trends. For further details, call: 01788 538332.