Maximising opportunities in the used car sector is likely to be essential to maximising franchise dealer profitability in 2020, says epyx.
The company, which delivers the 1link Disposal Network remarketing platform, says that the new car market is unlikely to stage a recovery – but used demand should stay consistent.
Vicky Gardner, head of remarketing at epyx (right), said, “Whatever the outcomes of the current macroeconomic issues affecting the car market, ranging from the general election to Brexit, there is unlikely to be any substantial increase in new car sales.
“However, one of the lessons of the last recession is just how resilient used car sales remain in tough times. The fact is that people need cars and, in a situation when they are uneasy with buying new, they will turn to used because of the value they offer.
“In a market that is probably going to be characterised by more uncertainty and low consumer confidence, it is very clear that it is the franchise dealers who are able to offer the most effective used car propositions are likely to be the ones who will prosper most.”