Brexit concerns hit UK dealers as showroom enquiries for new vehicles fell by 11% in March, according to our latest set of sales and enquiry data.
Despite the number of enquiries coming into dealers from potential buyers falling by double digits, overall revenues from new sales only fell 2.6% as dealers increased sales activity with a 5.7% increase in outbound sales calls for new sales.
Total enquiries for used fell by 2.6% while used revenues increased by 8.3% against March 2017. Finance penetration increased from 79% to 80% for new vehicles and 44% to 47% for used.
Martin Hill, our managing director said:
“A recent survey showed consumer sentiment in Britain fell to its lowest point in more than five years in March. It is clear that automotive retail is not immune to these headwinds, but dealers are reacting with structured sales programmes to minimise the impact.
Used sales continue to provide a valued and robust revenue stream for dealers with revenues rising in March, in a tough market. Finance penetration continues to rise for used sales and provides a strong revenue opportunity as this market continues to evolve.”
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