Car dealers may experience a used car sales performance blip after voters head to the polls for today’s General Election 2019 but the sector is “performing pretty well” in challenging times, according to Cazana.
October has been a volatile month politically and economically with warnings around future investment in the UK and the viability of running certain business types amid major UK business failures in the retail sector.
Despite volatile alternative fuel vehicle (AFV) values and reports of significant decline across the sector, there is ‘no need' for car retailers to heavily write back stock values, according to Cazana.
The used car market in March was a story of two halves and market sentiment would appear to suggest that the retail consumers were more fickle than they have been for some time, according to Cazana director of valuations Rupert Pontin.
February has not served to install car retailers’ used vehicle operations as “the shining star” in their business in recent months and news of HMRC VAT reforms will only make life tougher, according to Cazana.