Confidence has grown among independent used car retailers as CAP’s monthly research of 100 specialist independent used car dealers revealed a surge in positive dealer sentiment for June.
The latest findings reveal a 16% increase in the number of dealers who saw an increase in sales during June, compared with the previous month. Every other measure in the survey is positive too, with dealers also rating June 2014 better than the same month last year. Other findings included a 20% surge in customer enquiries for used cars, and a 18% rise for the number of dealers describing the current business climate as positive.
18% more dealers expect further growth in the next three months, and 16% more reported less difficulty in sourcing the right kind of cars for stock. CAP’s index of independent dealer sales is now at its highest level since last summer, when July 2013 proved to be the best month for retail sales since the index was launched in 2011.
“Independent dealers are the true barometer of the market because they are under no pressure to meet new car targets or focus on one particular profile of used car,” said Mike Hind, CAP Automotive spokesman. “The success being enjoyed by our dealer insight panel therefore indicates a market that is in rude health across the board.”
Each month CAP questions a ‘Dealer Insight Panel’ of around 100 independent used car retailers as research for Black Book Live, CAP Automotive’s unique real time used car trade values trending tool, used by businesses across the industry.