Business as usual for dealers after strong September
Automotive data expert cap hpi, has revealed that almost two thirds (60%) of retailers experienced lower footfall than they experienced in September with just over one in ten (12%) reporting an improvement. The remaining 88% suggested footfall levels across their forecourts had remained at similar levels.
Dealers were slightly more optimistic about online activity. While 47% stated that enquiries had tailed off slightly in the month, 16% had actually felt an improvement online and the remaining 37% intimated that levels were the same as for September.
Against the backdrop of stock levels beginning to build, retailer sentiment on retained margin dipped with 41% reporting that they had experienced a reduction in profit per unit, 14% recorded an increase and 45% reported that levels remained broadly similar.
Responding to overall stock levels, well over half (59%) of dealers felt that they were as expected for the time of year and 20% suggested it was lower by comparison. The remaining 22% felt that stock levels were higher.
When surveyed about the level of pre-registered stock, 36% of dealers stated that it was higher than expected, 19% lower and 45% as expected.
Philip Nothard, consumer and retail specialist at cap hpi, said “Consumer confidence remains healthy and proactive dealers will continue to find customers that are keen to buy. Due to the stock volumes we’ve seen enter the market of late, used vehicle dealers need to ensure strong price positioning and keep a keen eye on the market to ensure stock turn.”
With over 27 years’ experience in the motor trade, Philip brings an informed eye to developing industry insight and market commentary. He joined cap hpi in 2010 as Retail & Consumer Black Book Editor, where he was responsible for analysing pricing data and interpreting strategic trends in retail, consumer and trade markets. A widely experienced and highly successful automotive specialist, he has a wealth of knowledge gained at the most senior levels whilst working for blue-chip businesses within this sector. His experience helps him to interpret trends and raw data into contextual and meaningful insight. Philip’s career includes managing dealerships for independents, supermarkets and large PLC groups.
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