Dealers taking stock of 2019

Dealers taking stock of 2019 point to positive year ahead

Liam Quegan NextGear Capital

Dealers are looking ahead to a positive 2019 with around two thirds of those surveyed for the latest sentiment survey by NextGear Capital saying they plan to invest in their business during the next 12 months.

When asked ‘What best sums up your ambition for your used car business in 2019?’, 65% of those surveyed said it was to grow their business throughout the year.

When posed the question ‘What will you be investing in to support your business in 2019?’, 52% said they would be investing in additional used car stock.

When it comes to stock funding, nine out of ten dealers said they will use more than one source of funding, with wholesale finance and their own capital dominating the options chosen.
Liam Quegan, NextGear Capital’s Managing Director comments: “The survey results show dealers share a very positive outlook for the year ahead, with investment and growth a clear ambition for many.

“After what was a challenging year for many dealers, and with Brexit now just around the corner, it’s exciting to see they’re not holding back but are actively charging at the year ahead with a determined vigour.

“Despite the uncertainty of what will happen after 29th March, the potential for growth this year is nevertheless there for the taking. The used vehicle market is growing, consumer finance products are making it possible for more people to afford better and newer cars, online trading is breaking down traditional barriers and the wholesale market is offering a greater choice of stock than ever before. Navigating this requires a sharp business brain, entrepreneurial flair and reliable partners.

"So as dealers look to invest in their businesses and increase their stock portfolios, it’s also heartening to see them taking a more diverse approach to their funding options. In utilising a range of options, they are placing themselves in the strongest position to make choices best suited to their business and those demonstrating the most flexibility are set to reap the biggest rewards.”

Latest from Cox Automotive

16th August, 2019

Cox Automotive forecasts 7.8 million used car transactions in 2019 after strong H1 used car performance

We've reaffirmed our full year forecast of 7.8 million used car transactions in 2019 following the release of Q2 figures from the SMMT.

Read more
13th August, 2019

Market tracker - July 2019

July trading started reasonably well and stock availability in the wholesale market did improve in July, according to results released today by Cox Automotive.

Read more
13th August, 2019

CV market tracker - July 2019

The used LCV market put in a strong performance in July with good levels of buyer demand and stock availability, according to the latest results from Manheim.

Read more
6th August, 2019

Dealers react as dip in diesel demand hits used car market

Declining demand for diesel stock is starting to impact the used car market according to the latest NextGear Capital sentiment survey.

Read more
More articles