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Dealers upbeat on profitability outlook for 2014Back

CarReg1The majority of dealers believe profitability in 2014 will be higher than last year, according to a new survey.

The Motor Trader Confidence Barometer, sponsored by MHA MacIntyre Hudson, polled dealers on Q1 and asked how they expect the rest of the year to pan out.

For the full year, almost three-quarters (74.3%) expected profits to rise, 15.7% said they might rise while 10% did not expect an increase.

Most dealers (67.6%) expected year on year profits to be up in Q1 with a further 21.1% saying they probably would rise. Only 11.3% did not expect an increase in profits.

When asked if they would consider taking on a new franchise in the next 12 months the majority (42.2%) said no, a third (32.3%) said they would and a quarter (25.3%) said maybe.

When it comes to acquiring new dealership property this year the majority (57.1%) said they were unlikely, but the balance were considering such moves with around a third (30%) saying they were quite likely and 13% saying they were very likely.

Dealers were also asked whether the positive economic forecast will prompt many owner-drivers to bring forward their exit plans.

Most thought it would with 30% saying yes and a further 48.6% saying maybe, while 21.4% said no.

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Source: Am Online

Posted by Sue Robinson on 25/04/2014