Am I safe?

Our industry has been in recession since the beginning of 2007 at least. I think as the biggest player we are far better placed than the myriad of smaller dealers out there, for all sorts of reasons financially and structurally.Like I was saying the car market is ahead of the general market in that respect - the market has been contracting on big-ticket items since late 2006. It just didn¡¦t become noticeable on the general market until the credit crunch hit mid-2007. If you will recall we were suffering round about then because the manufacturers were continuing to produce, despite slackening demand, which was pushing down the profit that we could make on car sales. I think however now that it is a general recession - production is falling back, demand for service and parts will rise and that area of the business will grow. It is higher margin traditionally than sales so I think we can do well - this business is to a certain extent self-diversifying in these conditions. I'm fortunate that people still need trucks and cars and the people that provide those services need accountants!