Car credit customers rejecting luxury vehicles

The credit crunch has forced one of Exeter's most exclusive car dealers out of business, with the loss of 19 jobs.

Car credit companies and manufacturers removed row after row of brand new luxury cars from the forecourt and showroom at Bentley West Country, after the vehicles failed to sell.

Car credit customers and motorists in general are favouring either cheap new cars or reduced-price second-hand cars, given the current economic uncertainty.

Joint receiver Andrew Sheridan, of Baker Tilly, said of Bentley West Country's collapse: "Everyone is more than aware of the current crisis facing much of the motor industry, but the speed of the downturn at the luxury end of the market has been very severe.

"In the last three months, plummeting second hand values of luxury cars, combined with a drying up of inquiries for new vehicles, has caused Bentley West Country to run out of cash. Unfortunately, it has ceased trading with the loss of all 19 jobs."