Exclusive findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal 63% are positive about their business prospects for 2017.
The Dealer Satisfaction Survey is a continual telephone survey undertaken by Close Brothers Motor Finance and reported on a monthly and quarterly basis.
The survey questions 750 new and used car, motorcycle and light commercial vehicle dealerships across the UK to help provide a picture of dealer trends and help Close Brothers Motor Finance improve their service.
This iteration of the survey – undertaken in September and October – asked dealers about their performance over the past 6 months, their prospects for the year ahead, and what they see as the biggest challenges and opportunities for their business.
The research found that almost half (47%) of dealers see the proliferation of new finance products as the biggest opportunity for the year ahead. The second and third biggest perceived opportunities for their business were changing consumer behaviour (33%) and rising affordability of motor vehicles (31%). Conversely, nearly half (43%) thought the prospect of the UK economy going into a recession was the greatest threat to their business over the coming 12 months.
The survey also looked to analyse the performance of dealers over the last 6 months, and found that 42% are performing better since the Brexit vote. Two in five (40%) dealerships say their business is operating the same, and only 15% state that their business is performing worse overall than it was six months ago.