There was an 11.5% rise in new car registrations in January in comparison to a year ago, a new report has revealed. This was the 11th successive monthly rise in car registrations in the UK, with competitive deals and lower running costs associated with new automobiles persuading people to opt for a new car. Another solid month of trading for January has led to the Society of Motor Manufacturers and Traders (SMMT) revising forecasts for UK car manufacturing, with now more than 2 million cars expected to be produced in 2014. Interim Chief Executive for the SMMT, Mike Baunton, commented: “Building on a strong performance in 2012, SMMT has increased its market forecast – we anticipate a modest rise over the year, followed by further growth in 2014.”
Invoice Finance for Manufacturers
Is your manufacturing business benefitting from the boom in UK car production? Could your SME capitalise further and take advantage of optimism in the car industry through growth plans? Invoice finance solutions such as invoice factoring and invoice discounting can be used by all sorts of manufacturers who deal on a B2B basis. Such funding facilities work to release the cash you may have tied up in unpaid invoices, allowing you to get your hands on the money you’ve already earned quickly and consequently giving your cashflow a boost. Why not give us a call today on 0845 602 9354, email us at info@skiptonbf.co.uk or browse our website further for more information on how invoice finance works.