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Automotive Holdings Group Notes Regarding Possible Impacts on Car Dealers from Recommendations of the Financial Services Royal Commission

07 Feb 2019  |  10:10:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: FINANCIAL SERVICES ROYAL COMMISSION

Automotive Holdings Group noted the commentary around the possible impacts on car dealers from the recommendations of the Financial Services Royal Commission. The Company believes there will be no impact from the recommendations in the current financial year to 30 June 2019 and minimal, if any, impact in the following year. If the POS exemption is abolished, the Company is well placed to manage the change, either in cooperation with its existing finance providers or using its own existing Australian Credit Licence.

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