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Francesca Bettermann, corporate automotive lawyer at Denton Wilde Sapte says: "The package is well-intentioned, recognising the importance of the car industry to the UK economy, trying to retain our skills and technology, and encourage greener vehicles. So it may help some of the manufacturers and larger suppliers to stay in gear; but seems to leave the consumer and the separately-owned dealers on the hard shoulder: it doesn't seem to address the root problem, which is plummeting demand for new cars and over-supply. In the current climate, people are worried about job security and so are thinking twice before splashing out on a new car; and many of those that do take the plunge can't get finance. Details of any credit - assistance package are very sketchy and there is no tangible help on offer. What is the point of enabling manufacturers to build more cars if nobody is able to buy them? Stockpiles of new cars will put further pressure on dealer margins as they struggle to sell them, and will further decimate residual values in the second-hand market, which again is not good for dealers." The Milton Keynes Corporate team at Denton Wilde Sapte has continued to expand the depth of its offering and tackled an enviable range of transactions, in terms of both complexity and number of completed deals. The niche Automotive unit, under Francesca Bettermann's helmsmanship, consolidated its reputation in the sphere by continuing to act for high-profile dealers (e.g HR Owen) and by rolling out training for motor dealers on the new consumer protection regulations, and acting on the establishment of the Cholmondeley Pageant of Power, a credible rival for the Goodwood Festival of Speed.
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