Judgement Day looms - and the 29th of March is fast approaching. With every other article in the news being Brexit related, it’s interesting to speculate what the impact will be across different sectors of the automotive industry.
With the retail space seemingly struggling over the last few years anyway, recent figures released suggest that a ‘no deal’ Brexit will cause further disrepute. With vehicle production predicted to take a dive, retailers need to take stock and make sure they are offering the best possible services to attract any buyers that are looking to purchase in these uncertain times.
As the consumer journey has changed so drastically over the last few years, services such as digital marketing and lead management need to be used to engage consumers at the point of contact. If they don’t get the correct service then quite frankly consumers will go elsewhere. It's clear that dealers need to think of new and innovative ways of attracting consumers.
A ‘no deal’ Brexit will see car registrations volumes slip back top levels last seen in the 2009 recession, algorithms created by Frost & Sullivan have determined. Calculations run by the consultancy group suggest that UK vehicle production will fall back from around 1.48 million units in 2018 to 1.17 next year as part of a Brexit-triggered trend exacerbated by a reduction in automotive sector investment – from a high of £2.5 billion in 2015 – to £0.44bn in 2019 in a ‘no deal’ scenario. “What we have found that new car sales volumes will decline whatever the outcome of negotiations, but a hard Brexit would see registrations fall back towards levels last seen in 2009,”
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