The press has focused on the recurring downward cycle of UK car sales. This will create issues for those lenders operating in this area such as captive finance houses. As the market chases volume, it is imperative regulatory compliance is not sacrificed as a result of a tightening client base. By comparison used car sales are currently robust. So I do not see a fundamental problem, in reality these cycles are normal. This just feels more extreme on the back of a very successful period.