Vertu Motors Declines in the Face of Budget Blues
Picture this: a bustling chain of car showrooms, the place where smiles get stitched onto new steering wheels, suddenly shutting its doors on a Sunday afternoon. That’s the headline shock of the week for Vertu Motors, one of the UK’s most beloved car dealerships.
What’s Causing the Chaos?
- £10 million Wage Windfall: The Autumn Budget channeled a hefty increase in the wage bill—thanks to national insurance hikes and a new minimum wage coming into force in April.
- New ZEV Mandate: The government’s push for Zero‑Emission Vehicles is rattling the entire new‑car market, leaving dealers scrambling.
- Employment Crunch: With 7,500 people spread across 198 sites, Vertu plans to cut around 15‑20% of its workforce.
CEO’s Take‑away
Robert Forrester, CEO: “The Government’s ZEV Mandate is causing severe disruption to the UK new car market, and the consumer environment is subdued. We need the Government and the industry to unite and address the root cause. Only then can the automotive sector resume its role as an economic growth catalyst. Right now, we’re in trouble.”
What Does This Mean for Car Lovers?
It’s not just about lost jobs—it’s about the ripple effect on local communities, tourism tied to car sales, and future economic growth. Without enough dealers on the market, the road to faster, greener rides becomes a bit murky.
Stay tuned for deeper insights on how the automotive sector may bounce back—and how you can keep your next car purchase a smooth ride.
