Consumer confidence drives up enquiries
Rising consumer confidence during April was reflected in an eight per cent rise in enquiries for new and used vehicles received by dealers across the UK, as against the same month last year.
According to experts at iTrackLEADS, the figures bode well for sales figures later in the year.
Meanwhile,British consumers were their most upbeat in more than a year this April, despite the surging cost of living, as they took a more positive view of their finances and the health of the wider economy.
Consumers’ expectations for Britain’s economy in the next 12 months hit a 15-month high, and they saw the prospects for their personal finances as the brightest since February 2022.
The strong April result for enquiries followed an increase of 13% in March. However, test drives fell by four per cent and overall sales fell by one per cent.
Adrian Favill, director of iTrackLEADS, said: “It’s great to see consumer confidence start to return to the market despite continued headwinds in the economy. Dealers have become adept and converting enquiries into sales and managing customers through supply chain delays.”
However, manufacturing delays and shortages of used stock continued to be an issue, with a 19% fall in vehicle handovers.
