UK: Exchange rate, sharper local prices, clobber new car parallel imports
Autocar magazine claims that UK price cuts, faltering exchange rates and worries over dealer quality are strangling the new car 'parallel import' trade. Dozens of companies have already gone out of business and more are likely to go bankrupt as the tide changes. Imports accounted for 123,000 new car registrations during 2001-02 - but this year the figure is forecast to be 57,000 or lower as customers return to their local and trusted UK dealer.
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