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Looking across the Irish Channel

16th July 2009, Page 51
16th July 2009
Page 51
Page 51, 16th July 2009 — Looking across the Irish Channel
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Which of the following most accurately describes the problem?

HAULIERS IN THE Republic of Ireland are attempting to sell their trucks to UK dealers and raise some cash rather than buy new ones because of the dire state of the Irish economy.

Jamie McDonald of Eye. Suffolk dealership Roy Humphrey has taken a number of calls from Irish operators.

"The difficulty many of them are having is that they bought their vehicles when prices were at their peak," he observes. "Now they can't get rid of them without suffering a heavy loss."

Irish hauliers are not the only ones to have bought trucks when values were on the crest of a wave only to see them crash.

"I suspect that there is still a lot of overpriced stock around in Britain hidden behind closed doors," McDonald continues. "I admit that we ended up with one or two — no more than that — high-priced vehicles that we purchased during the boom, so we've rented them out for 18 months."

That will give them time to depreciate to a more acceptable level. "As a result, we'll be able to price them more sensibly when they come back and are put on sale," he believes. •


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