SBP editorial: PCP bubble a risk to motor industry

SBP editorial: PCP bubble a risk to motor industry

In 2008, just before the crash and at the very peak of the Celtic Tiger, almost 190,000 new cars were sold in Ireland. The following year, that figure fell to just under 55,000, a two-thirds drop.

It was a catastrophic collapse for Ireland’s car dealer networks and quite a few struggled to stay in business through the hardest years of the crisis.

The advent of personal contract plans – a kind of hire purchase deal that allows...

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