Contact:
Serj Heera
Press Relations Executive, Automotive & Insurance
+44 (0) 115 976 8945 Tel
serjeet.heera@uk.experian.com Email

EXPERIAN PUBLISHES Q3 2008 UK AUTOMOTIVE BUSINESS INSOLVENCY STATISTICS

Nottingham, UK, 3 November 2008 - The number of insolvencies in the automotive industry rose by 18 per cent during Q3 2008 compared to the same period last year, according to the latest figures from Experian^®, the global information services company.

Business failures in all industries throughout the UK saw an increase of 28.2 per cent during Q3 2008.  Of the 36 industries analysed by Experian, the automotive industry saw the 17^th highest number of insolvencies, with 67 businesses failing. 

Kirk Fletcher, Managing Director of Experian’s Automotive division, said: “Our analysis highlights why it is important for automotive businesses to know that their customers and suppliers have the means to pay their bills. 

“The best way for automotive businesses to protect themselves is by continually monitoring customers’ and suppliers’ commercial integrity.  Access to this level of detailed insight will provide them with the intelligence to help them manage their exposure to risk.”

Experian’s online Risk Report includes information on a business’s risk score and assigned credit limit, payment information on how quickly a company pays its bills and CCJ information.  It also includes information on whether there are any alerts against a company, such as a change in company name, director disqualification or serial director failure that may warrant further investigation.  For further information about Experian’s Risk Report, please visit http://www.experian-bi.co.uk/risk/

ENDS