Motor trade plays down concerns for bumpy 2018

Britain’s motor dealers appear confident about business prospects in 2018, despite a bumpy road ahead.

The latest Close Brothers Motor Finance’s dealer satisfaction survey reveals that the vast majority of dealers – 92 per cent – are confident about their prospects, up from 63 per cent a year earlier.

Maintaining stability, expansion of new vehicles types and new finance products are among the biggest opportunities in the year ahead, according to the study.

However, Brexit, the general state of the economy and changes to legislation and regulation are expected to be the biggest threats to motor dealers in 2018.

The report comes amid a challenging backdrop for new car sales, which have fallen for several months now, with diesel sales particularly badly affected.

The Close Brothers survey – undertaken between August and October – asked dealers about their business performance, prospects for the year ahead, and what they see as the biggest opportunities.