Recent data from cloud-based showroom management company Dealerweb has shown that new and used car enquiries in the UK have remained healthy despite Brexit.
Analysing figures from its 220 UK dealers, Dealerweb said there had been an overall five per cent rise in enquiries about new and used vehicles in the four weeks since the EU referendum vote. These figures included dealerships across the volume, prestige and luxury categories. Dealerweb did, however, say that there had been a slight dip in sales conversions. This contrasted with the most recent SMMT figures for July, which indicated a 0.1 per cent rise compared to the same period in 2015.
With fears over Brexit largely assuaged, many dealers will be thinking of investing in new stock, especially with the number plate changeover occurring in September. If that’s the case, be sure to update your road risks insurance and motor trade insurance policies to ensure full coverage.
James Hill, the sales operations director at Dealerweb, said of the recent data: “For much of the period since the Brexit vote it has been business as usual for the automotive retail trade, despite fears in some quarters of a downturn in consumer confidence.
“The data suggests that while enquiries levels are strong, sales conversion ratios have suffered at the hands of Brexit, with consumers making initial enquiries, but perhaps delaying their purchase in the aftermath of the vote. It will be interesting to see if enquiry levels remain stable to the end of the year as the wider implications of the vote become clearer.”
This follows a period of uncertainty regarding the outcome of the EU referendum vote, where 53 per cent of dealers told AM Online that they feared that vehicle sales would fall.