Release dated: 30 October 2009
Automotive businesses improve the time it takes to pay their bills
During September, the number of days that automotive businesses were paying their bills late fell to the lowest point since July 2008, according to the latest Late Payment Index from Experian®, the global information services company.
Automotive businesses were paying their bills 4.7 per cent faster, from 16.66 days beyond agreed terms in August to 15.88 days in September. The year-on-year comparison also revealed a 4.2 per cent fall (from 22.82 days in September 2008).
This is the quickest that the automotive industry has paid its bills since July 2008, when automotive businesses were paying their bills 15.75 day beyond agreed terms.
Overall, the automotive industry was among the sectors to pay its bills the fastest, ranking fourth after the agriculture/forestry/fishing, oil and servicing/repair sectors.
Mark Nuttall, General Manager of Experian’s Automotive business, said: “Considering the increase in the number of businesses that have failed in this sector in September, this is a more positive picture of how businesses that are still trading fared during September. Payment performance is a vitally important as an indicator of a business’s cash flow and a good history of payment is considered favourable when it comes to supporting credit scores and limits.”
|
Days Beyond Terms |
200909 |
200809 |
200908 |
|
Automotive |
15.88 |
16.57 |
16.66 |
|
All sectors |
21.54 |
22.82 |
23.60 |
Source: Experian
ENDS
For further press information please contact:
SERJ HEERA, PR Manager, Experian, Riverleen House, Electric Avenue, Nottingham, NG80 1RH. Tel: 0115 992 2773. Mobile: 07837 652169. Email: serjeet.heera@uk.experian.com
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2009 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
About Experian Automotive
Experian Automotive provides powerful data insight to organisations within the automotive industry, including manufacturers, motor retailers, motor finance companies and insurance providers. Experian Automotive also works with carefully selected partners to deliver information direct to consumers.
Risk management products from Experian provide clients with an independent assessment of vehicles, prospective business partners and customers and potential and existing employees. Powerful customer insight also enables these clients to accurately target the hottest customers and prospects using the most cost effective channels.
Experian Automotive works with over 80 per cent of the AM 100 and Motor Trader Top 200 enabling them to manage the risks and maximise the opportunities that face their businesses every day.