Car dealers are adopting new technology to meet new purchasing demands among car buyers, according to the latest research from CarGurus.
Car retailers must continue to reassure customers of their COVID-19 mitigation measures as concerns about the virus fail to ease - outweighing any other issue over the past 50 years.
Car dealers’ used vehicle stock levels have declined by 30% as post-lockdown demand among buyers leaves businesses “grappling” with the challenge of securing fresh product for their forecourts.
More than a quarter of PCP buyers are concerned about meeting future monthly payments on their next vehicle due to the impact of COVID-19, according to What Car?.
CarGurus has released its latest COVID-19 Sentiment Study, revealing the continued impact of the pandemic on the concerns, habits and hopes of UK car buyers.
Car buyers who reined-in their spending during the COVID-19 lockdown period have returned to the market with improved credit ratings and higher budgets, research suggests.
Less than 12% of the UK's franchised car dealerships were “fully staffed” amid signs that customer confidence was continuing to steadily increase at the start of July.
Car dealers are hopeful of a more successful 2020 after a painful 2019, according to the latest surveys of the mood within the UK motor retail industry.
The National Franchised Dealers Association (NFDA) has said that it hopes the Conservative Party’s general election victory “will stimulate the motor retail industry”.
Car dealers may experience a used car sales performance blip after voters head to the polls for today’s General Election 2019 but the sector is “performing pretty well” in challenging times, according to Cazana.
October has been a volatile month politically and economically with warnings around future investment in the UK and the viability of running certain business types amid major UK business failures in the retail sector.
New car sales declined by 6.7% during October as consumer confidence dipped to its lowest level for six years as talk of a December General Election grew in volume as another Brexit deadline loomed.
Vertu Motors chief executive Robert Forrester has said that he wishes he could “ban the BBC” among the group’s employees as he bids to block out Brexit negativity to focus on sales process.
The Society of Motor Manufacturers and Traders (SMMT) has stated that a new period of Brexit limbo has not ended the “havoc” for automotive sector as it revealed that UK vehicle production had fallen by 15.9% in Q1.
Automotive finance companies may be hit harder than car dealers by rising inflation & interest rates and falling consumer confidence
A study conducted by the AA has suggested that drivers aged 18 to 24 are more likely to adopt EV technology – harbouring fewer concerns about range and cost than older motorists.
The Motor Ombudsman has reported a 13% increase year-on-year in the level of contacts handled by its team of legally-trained adjudicators in Q2 this year.
Car buyers are concerned the Brexit result will push up the price of fuel and insurance, according to an AA poll.
