Increasing new car demand will have a positive impact on the used car market and franchised dealers can look forward to a buoyant Q4, according to Professor Peter Cooke, author of the BCA 2013 Used Car Market Report.
But he warned: “After the challenges, doom and gloom of recent years, the signs of recovery are welcome and positive. However, we don’t know how long this recovery will last.”
Professor Cooke, who established the Centre for Automotive Management at The University of Buckingham has divided his 40-year plus career between the industry and business school, will examine some of the highlights and implications from the BCA Used Car Market Report 2013, at AM’s Used Car Market Conference.
The conference, which takes place at the Ricoh Arena, Coventry on October 10, will once again be hosted by used car commentator Quentin Willson and incorporate analysis from a range of experts as well as focusing on specific topics such as F&I.
Cooke said: “It is a different marketplace compared to last year and there have been some very subtle yet significant changes.
“We will explore these in some detail including customer expectations and how customers are gathering their information to make their used car buying decisions.”
Cooke said there is now an air of confidence from consumers in terms of the economic climate, the products they are buying and the service they are receiving.
He said: “The long awaited economic recovery is likely to mean more people will be looking to replace their used car with a better used car. While the on-going stock shortage will continue, it does create a situation of supply and demand in the favour of retailers which may keep prices strong.”