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Over a third of used car dealers report better than expected year, despite stock availability issues

April 19, 2023•1 min read

According to new research from motor finance company Startline, over a third of used car dealers are reporting that this year is turning out better than expected, despite the ongoing issues of stock availability.

The company's Used Car Tracker survey for the month shows that of the 60 dealers questioned,

35% believe 2023 is shaping up to be "something of a pleasant surprise".

15% reported they are maintaining profitability,

12% believe stock availability is improving, and

9% reckon that consumer confidence is rising.

However,
62% say stock availability is still a problem,

32% say staying profitable is difficult

27% believe consumer confidence is still low.

Stock availability was named the biggest challenge for the future retailing of used cars, mentioned by 70% of dealers, followed by the changeover to electric vehicles at 55% – up from 46% in March – and increasing compliance requirements at 45% (30% last month).

The report concludes that while conditions are not as bad as some experts predicted, dealers still need to work hard to make money and continually find new ways of maximising their business potential against a difficult backdrop.

You can read the full article here.

car dealer marketing

Pete Withers

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