The UK is a key player in the global automotive industry and a significant contributor to the UK economy. Comprising annual turnover of over £50 billion and a workforce of over 0.8 million people, it makes up 10% of the UK’s exports and is a significant employer of essential skills to UK Plc.
Like many industries, the automotive sector is currently facing a challenging time and remains fragile to changes in the macro-economic environment. The current economic climate and weak consumer confidence has resulted in falling registrations across the entire UK vehicle market, with a knock-on effect to the wider automotive industry.
Zolfo Cooper has a dedicated automotive team, with a successful track record in delivering innovative solutions and advice to distressed businesses, working alongside management teams and also stakeholders within the industry.
Why Zolfo Cooper?
Zolfo Cooper’s extensive knowledge across the whole industry means that we can quickly understand the key operational and financial issues affecting a business, allowing us to provide relevant value-added solutions and recommendations. Our credentials in the automotive industry are excellent and wide ranging, including the global restructuring of Federal Mogul and Collins & Aikman, together with significant credentials in the supply chain, distribution, retail and after-sales markets across Europe and the UK.
Through our sister firm in the US and our global affiliates we are able to assemble teams to provide international solutions to compliment our UK and European offering.
Zolfo Cooper has a proven track record of understanding and executing complex transactions, working in national, multidisciplinary and multi-jurisdictional teams.
Our national UK automotive team in the UK includes dedicated specialists offering a wide range of services to the various stakeholders and their clients, in the automotive industry.
Through our partnering approach with carefully selected industry specialists, we are able to bring genuine industry expertise, including access to both existing and former dealership operators, specialist accountants, finance directors and senior motor trade trained staff.
This allows us to provide access to additional services, without conflict, including profit and operational improvement advice, benchmarking, management support, assurance services and specialist tax advice.
If you would like to hear more about our automotive credentials and the solutions we can provide please contact one of the senior automotive team: