The used vehicle market in the UK promises to be the automotive industry’s sales growth engine next year as demand for vehicles and finance grows, according to industry experts.
While the new car market is enduring what experts are calling “a perfect storm” of challenges, ranging from the sales impact of the new WLTP emissions tests to economic uncertainty and negative messages surrounding diesel, the outlook for the used car market is positive, particularly as finance penetration grows.
The size of the potential used car finance market could dwarf the new car sector; the annual used vehicle market is four times the size of the new car market, meaning finance levels in the two sectors are already nearing parity, despite lower levels of used car finance penetration.
Marshall Motor Holdings PLC (LON:MMH) is the 7th largest motor dealer group in the UK. Since 2008, 86 franchises have been added and 36 non-core or loss making operations have left the portfolio. The Group operates 101 franchise dealerships representing 23 different brand partners in 26 different counties across England.
