Exclusive findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal that most motor dealers (96%) are confident about business prospects in the market going into 2020, with almost six in 10 (58%) ‘very confident’.
At a time when the new government and the Brexit extension offer a potential end in sight for the political turbulence, the research found that ‘maintaining stability within the business’ has become the biggest opportunity in the coming months.
The research found that the proportion of dealers who see stability as the best opportunity for their business has doubled in the previous quarter, jumping to 14% from 7%. A similar proportion felt Brexit could offer opportunities for their business, more than doubling in the past three months from 6% to 13%.
One in eight (12%) dealers also see expanding their offering to new types of vehicles, as consumer demand continues to shift, as an opportunity for 2020.
However, while the potential for stability may be increasing, a significant proportion that remained concerned about the threat of Brexit remains. Almost half (47%) of dealers cited Brexit as a potential problem for their businesses, up from 43% in the previous quarter. This was nine times the proportion who were concerned about the threat of stock availability (5%), regulation (5%), or an economic downturn (5%).