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.