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That was pricecutting, by George!

10th July 1982, Page 21
10th July 1982
Page 21
Page 21, 10th July 1982 — That was pricecutting, by George!
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Which of the following most accurately describes the problem?

'GEORGE TURNBULL, the new president of the Society of Motor Manufacturers and Traders, complains that the buyer's market "is draining all the elements of profit ... from manufacturers of vehicles and components, and distributors and retail dealers alike".

History is merely repeating itself. Eighteen years before George was born, the November 18,1909 issue of Commercial Motor quoted a correspondent in Melbourne, Australia, who bemoaned "the mad conflict raging amongst agents desiring to sell different makes ..." An agent for "one of the best British makes" offered a price that left him a net profit of 15s (75p) — and then was undersold by an agent for another leading British make.

The odd thing is that the motor industry still survives.