Dealers ‘overwhelmingly optimistic about next 12 to 18 months despite gloomy economic outlook’

Dealers ‘overwhelmingly optimistic about next 12 to 18 months despite gloomy economic outlook’

DEALERS are overwhelmingly optimistic about the used car sector in the next 12 to 18 months, new research for Startline Motor Finance indicates.

Despite a potentially gloomy economic outlook thanks to factors ranging from the prospect of a recession to continuing Brexit uncertainty, almost half of those quizzed (47.1 per cent) said they believed the market would see growth to some degree.

Meanwhile, nearly a third (29.1 per cent) saw the market as unchanging, while just over a fifth (22.8 per cent) predicted a limited decline. None of the respondents thought there would be a substantial drop.

Paul Burgess, pictured, chief executive at Startline, said: ‘One of the truisms of the motor industry is that even when times are difficult, people still need cars to live and to work – and even when new car sales suffer, used sales tend to be resilient.

‘To some extent, used cars are a counter-cyclical business, and there is every reason to believe that the industry will be very busy over the next couple of years, whether the many possible macro-economic difficulties materialise or not.

‘Dealers clearly share this view, but it is perhaps surprising the degree to which they view this as a moment when growth – even substantial growth – is possible. Really, they are overwhelmingly optimistic.’

The research by APD Global surveyed 57 dealer businesses, including franchise groups, independents, car supermarkets and online specialist brokers.

MORE: Importance of motor finance ‘set to grow if there’s a hard Brexit’

MORE: Startline secures £325m credit deal from investment bank

MORE: Up to 50 new jobs created by Startline as customer services move in-house

Latest Posts

Latest Posts