Dealer confidence has improved since the start of the year despite the continuing pressure of adverse economic, political and global headlines.
The latest quarterly JudgeService Dealer Barometer, conducted last week and polling more than 2,000 retailers, found that half of franchised dealers felt positive about their Q2 business performance, up from 37% in Q1.
Those feeling neutral about their prospects fell from 43% to 22%, although the proportion feeling negative rose from 20% to 28%.
Franchised dealers’ outlook
Independent dealers also reported higher confidence, with the proportion feeling positive rising from 29% to 38%. Negative sentiment among independents more than halved from 43% to 19%, while those taking a wait-and-see view increased from 29% to 44%.
Dealers’ views on consumer confidence also improved, particularly among independent retailers, where positive sentiment rose from 24% to 38%. Independent dealers were equally split between neutral and negative views, both at 31%.
Consumer confidence improves
Franchised dealers were more measured, with positive views on consumer confidence edging up from 38% to 39%. However, negative sentiment also rose sharply, from 19% in Q1 to 39%.
Commenting on the findings Neil Addley, managing director of JudgeService, said: “Our latest Dealer Barometer shows the resilience of franchised and independent car retailers who can look beyond the noise and negativity of what is currently a relentless daily news cycle to focus on what they do best: source and sell cars.
“This dogged termination to get on with the job has resulted in higher levels of confidence going into Q2 than they expressed about Q1.”
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