Release of second annual motor dealer survey
For the second year, chartered accountants and business advisors Larking Gowen, as part of the MHA motor specialist advisory team, has conducted a study to understand more about the issues and challenges that dealerships face. Larking Gowen is pleased to be part of the MHA association of UK-wide independent accountancy firms who have just released their second annual survey to motor dealers.
The report looks at the current outlook of the sector as well as future trends, including online retail, alternative fuel and autonomous vehicles, and the outlook for M&A across the UK.
The report reveals a significant drop in optimism amongst UK motor dealers around the prospects for profitability in the sector this year. 76% of dealers surveyed said they expected profits to drop or remain static for the year; that’s an increase of 20% from 2016.
Other key findings from the report are:
- 8 out of 10 dealers say Brexit uncertainty will have adverse impact on the sector.
- Used car performance expected to have most positive impact on profitability.
- Pre-registration levels, consumer confidence and costs have most adverse impact on profitability.
- Online retail set to become integral part in the future new car purchasing model.
- 59% happy with franchise partners’ future-proofing strategy for AFV and autonomous vehicles.
As specialist advisors in the industry we are pleased to provide the motor industry with a useful report to give a better understanding of the challenges motor dealerships face and the opportunities for the year ahead. The full report can be found here
If you wish to discuss any aspect of the report, we would be delighted to meet with you. Please contact Daniel Turner on 01603 624181 or email Daniel.firstname.lastname@example.org