A “difficult” 2023 lies ahead for the used vehicle sector but strong profits will still be possible, more than 150 delegates heard at the Vehicle Remarketing Association’s (VRA) Annual Seminar last week.
Philip Nothard, chair at the industry body said that speakers at the event had detailed a picture of both economic and structural challenges.
“There is a whole list of issues facing the remarketing sector – from recession to stock shortages and agency agreements to electrification – and these will need to be met with intelligence, commitment and often investment.
“However, there was also a very clear message coming through that this remains a sector that, by adapting to changing rapidly customer needs and difficult market conditions, will very much grow and thrive.”