The investigation into fraud at Lookers has exposed a £19 million ‘black hole’ resulting from overstated supplier bonuses, fraudulent expenses claims and the inconsistent application of policies, processes and accounting standards.
Despite severe political and economic headwinds, the UK car market will still have more than 10m sales during 2019, according to Philip Nothard, the customer insight and strategy director at Cox Automotive UK.
Cox Automotive and Grant Thornton have delivered analysis of diesel car sales, vehicle ownership trends and continued retailer consolidation ahead of Brexit after teaming-up to produce an automotive sector Insight Report.
Much of European OEM’s increased investment in the UK has been due to the stability of the regulatory environment and the robustness of our financial systems. It will be some time before we realise the full impact of that dislocation.
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