It is important for dealerships to acknowledge that digital continues to evolve, and they must evolve their strategies accordingly. Even with today’s advances, we still have much unexplored potential in social, the Cloud and artificial intelligence (AI).
Dealer numbers in Europe have significantly fallen as a consequence of the recession - and to the benefit of manufacturers. But it has been at reduced level to that of car sales over the same time period.
As things stand, it looks as though the first modest rate hike from the Bank will come next summer. We should look for a gradual upward move to around 2.5% in late 2016 or 2017, half the pre-crisis average for Bank rate.
The Financial Conduct Authority has reported that nearly 30% of interim permission holders that had the landing slot of October 1 to December 31, have not yet responded or submitted an application. This period was the first wave to include motor dealers.