Connect with us

News

NTDA Survey Shows Tyre Retailer Confidence Down

The NTDA (National Tyre Distributors Association) has published the results of a members’ survey, which shows that U.K. tyre retailers are battening down the hatches to avoid the pain of the looming recession.

Advertisement

“Even though it’s the early days of the recession, the answers to our survey indicate that tyre retailers are battening down the hatches and are expecting a tough time ahead,” association director Richard Edy commented.

Click Here to Read More
Advertisement

Two-thirds (66%) of those questioned said that they have reduced their capital expenditure, while 62% have postponed the purchase of equipment. When it comes to the workforce, just over half of the businesses (55%) have reduced staffing levels and 50% have awarded pay rises below the level of inflation. Some 45% reported that they had reduced staff hours or cut overtime.

On the financial front, 21% said that they had been refused a bank loan, while 40% claimed to have suffered from increased bank or credit charges. Unsurprisingly in these difficult times, 72% of the businesses have introduced tighter credit control conditions. Another 67% reported a fall-off in levels of retail business and 64% have responded to the downturn by reducing their stock levels.

Advertisement

Perhaps more worryingly, 64% claimed to have noticed a deterioration in the condition of tyres removed, which bears out a recent survey by car insurance provider Swinton, in which 23% of motorists admitted they would not be replacing tyres until they were very close to the legal minimum tread depth of 1.6 millimetres (despite parts of the tyre industry recommending 3 millimetres for safety reasons). (Tyres & Accessories/Staffordshire, U.K.)
 

Advertisement
Click to comment

POPULAR POSTS

News

How RoboTire Aims To Transform the Tire Industry

Goodyear Cooper Tire Execs Calabro-Cole Goodyear Cooper Tire Execs Calabro-Cole

People

Goodyear Appoints Cooper Execs to Manufacturing, Supply Chain Posts

supply chain supply chain

News

Bridgestone Ups Capacity to Address Supply Issues

News

Tire Shops: Be Ready for EVs

Connect
Tire Review Magazine