NextGear Capital research reveals post-lockdown funding trends

NextGear Capital research reveals post-lockdown funding trends

Dealers are leaning on Covid-19 recovery loans and overdrafts to keep their forecourts stocked according to the latest sentiment survey from our colleagues in NextGear Capital.

Their research has revealed 13% of dealers have used the Bounce Back Loan Scheme or Coronavirus Business Interruption Loan Scheme to stock up their forecourts, while 22% have used an overdraft facility.

NextGear Capital has approved customer requests for an additional £27m since 1st June, while it funded some 10,000 vehicles worth £82m during lockdown itself.

Read the press release here

 

Latest from Cox Automotive

19th October, 2020

Company statement

Given the degree of change expected in the wholesale and retail used car markets, Cox Automotive UK has confirmed its strategy and approach.

Read more
18th October, 2020

Mid-month review - October 2020

Philip Nothard, insight & strategy director for Cox Automotive UK, shares his brief observations on the trends emerging in the car market this month.

Read more
16th October, 2020

Fuel/five: 5 ways to improve your online retailing

Bite-sized automotive related titbits from Cox Automotive, delivered to your timeline every Friday.

Read more
14th October, 2020

Fuel/talk episode 5: Peter Bell talks mental health

James Davis chats with Pete Bell, Chief Operations Officer for Cox Automotive Europe, following World Mental Health Day to discuss some of the ways we’re working to break the stigma.

Read more
More articles