According to highly respected Motor Transport and Commercial Motor magazines, data acquired by accountants, Price Bailey, shows a hike in insolvencies from 225 in 2020/2021 to 363 in 2021/2022.
The most recent 12-month figure hits an alarming high of 463: a rise of 175% over the two years ending on the 30th September. The problems stem from rapidly rising fuel and wages overheads, and interest rate hikes that have impacted the cost of borrowing.
It’s an issue we at Dawsongroup have been highlighting for many years now, pointing to vital savings to be made by operators switching from ownership of vehicles to ‘usership’.
In the modern world, no transport business truly needs to own the hardware: just the miles and capacity it brings. And we deliver that to increasing numbers of operators, all without the additional stress of managing servicing, maintenance, inspections, tyres, tax, MOTs etc.
It isn’t magic!
It’s simply sensible use of the right components from our Smarter Asset Strategy, encompassing contract hire, leasing and rental. Any one of which, or indeed a combination, can immediately start to ease operators’ financial burdens.
Insights provided by James Hunter, Head of Sales