Dealers upbeat for 2017
Close Brothers Motor Finance’s Dealer Satisfaction Survey reveals the majority (63%) are positive about their business prospects for 2017.
The research found that almost half (47%) of dealers see the proliferation of new finance products as the biggest opportunity for the year ahead. The second and third biggest perceived opportunities for their business were changing consumer behaviour (33%) and rising affordability of motor vehicles (31%). Conversely, nearly half (43%) thought the prospect of the UK economy going into a recession was the greatest threat to their business over the coming 12 months.
The survey also looked to analyse the performance of dealers over the last six months, and found that 42% are performing better since the Brexit vote. Two in five (40%) dealerships said their business is operating the same, and only 15% stated that their business is performing worse overall than it was six months ago.
The survey – undertaken in September and October – asked dealers about their performance over the past six months, their prospects for the year ahead, and what they see as the biggest challenges and opportunities for their business. The survey questioned 750 new and used car, motorcycle and light commercial vehicle dealerships across the UK.