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Car dealers deliver January revenues and finance penetration growth

Martin Hill, chief executive, Dealerweb

Dealerweb has found that its car dealer clients across the UK realised growth in revenues from new and used sectors in January while finance penetration increased.

Finance penetration increased by 3.6% to 78% for new vehicles and rose by 3.7% to 47% for used during the period, Dealerweb said.

Its data shows enquiries for new vehicles dropped by 12.7% and 4.6% for used vehicles. The number of demonstrations fell by 18%.

However, revenues from new sales increased by 4.3% and used by 11.5%.

Sales conversion rates increased by 5.6% for new vehicles and 2.2% for used.

Dealerweb’s managing director, Martin Hill (pictured), said: “Dealers have shown a real focus on pursuing every sales opportunity to drive a stronger performance in January despite headwinds from the economy at the start of the year.

“It is important that every penny spent on bringing potential buyers to the door is cherished and every member of the team in a dealership is focused on delivering a personalised and seamless experience.”

The company recently expanded its operations with the launch of a Northern hub in Leeds to provide improved sales and customer service support.

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