‘The ongoing worldwide economic downturn has had a major impact on the motor industry in the UK. The Retail Motor Industry Federation (RMIF) has been working behind the scenes with the Government and the Society of Motor Manufacturers and Traders (SMMT) for some time, in order to put the case for business support measures that will aid the motor sector,’ said RMIF Director Sue Robinson.

Jaguar Land Rover will have to undergo some financial restructuring if it wants financial assistance from the government..

SsangYong Motors has filed for court receivership in order to avoid bankruptcy and cope with liquidity problems caused by falling demand for large SUVs.

KIA dealership ALN Motor Co at Marks Bridge, Amble, Northumberland has called in the administrators.

Interest rates close to record lows, cashback offers, VAT at 15%, 0% finance deals, falling residuals: there has never been a better time to buy a new or used car.

Dealers hoping cash in on VAT claims on demonstrator vehicles need to act quickly, as the 31 March deadline for doing so is fast-approaching.

Business secretary Lord Mandelson warned of further job losses in the car industry following Nissan's announcement to shed 1200 staff.