The Confederation of British Industry’s (CBI) latest monthly Distributive Trades Survey of 111 firms shows that 64% of motor traders are experiencing growth in their business.
The CBI surveyed nine automotive businesses in total and while the majority are seeing growth in the market, 36% said they were down, giving a balance of +28%, a slower pace of growth than in the previous month (+93%).
In comparison, high-street sales continued to grow strongly in the year to September, at the fastest pace since June 2012, and exceeded already solid expectations, according to the CBI.
This was the third consecutive month of growth, which was broad-based across a number of sectors. Retail sales are expected to grow robustly again in October.
Sue Robinson, NFDA director, said: “It is extremely encouraging to see that the high street is well on the road to recovery.
“Despite consumer confidence still fragile, this was the third consecutive month of growth, which was broad-based across a number of sectors. We hope to see retail sales grow robustly again in October.”
Barry Williams, Asda chief merchandising officer for food, and chair of the CBI Distributive Trades Survey Panel, said: “It’s encouraging to see the high street on the road to recovery, with particularly strong growth from furniture & carpet retailers, department stores and recreational goods retailers.
“But the retail sector is not out of the woods yet with consumer confidence still fragile despite the rise in spending.”