He was commenting this morning on the news that long-established dealership EP Mooney had closed yesterday, with the loss of a hundred jobs. The company underwent a restructuring in the past year whereby it let 150 people go, but was unable to continue because of the lack of bank financing.
Speaking on Morning Ireland, Mr Nolan said the car trade had lost 11,000 jobs since the beginning of 2008, or 25 percent. He added that the current situation where the business was trying to keep 75 percent of its workforce in an environment where sales were down by 70 percent is 'unsustainable'.
He also said that the situation would impact on the used car business also, as the supply of used cars is dependent on trade-ins for new cars.
