Customer demand dips as inflation rises
- Posted by: Alan Feldberg
- Category: News
New data has revealed that customer demand for new and used vehicles fell in September compared to the same month in 2021.
According to iTrackLEADS there was a 24.8% decline in enquiries, while test drives and both fell by 20%.
Adrian Favill, director of iTrackLEADS, said: “It’s clear the market is facing economic headwinds with the cost of living crisis weighing on consumers’ minds. In addition, the supply shortages of new cars and a tight used car market combine to make handovers difficult
“Despite all these challenges, dealers are continuing to navigate the market and work hard to deliver exceptional customer service with an efficient and speedy sales process. It’s vital that dealers use the technology available to them to operate efficiently and maximise the potential of every enquiry.”
September also saw the impact of the Queen’s funeral, which saw dealers close on the Bank Holiday.