October 5, 2022

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Automotive retail market is ‘resilient’ despite headwinds

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The automotive retail marketplace continues to be “resilient” during unparalleled headwinds, with “positive signs that an upturn is on the horizon.”

That’s the watch from Cox Automotive Europe as it releases the sixth instalment of its quarterly perception roundup, AutoFocus.

AutoFocus delivers collectively the most recent views on the sector from Cox Automotive as nicely as Owen Edwards at Grant Thornton, Steve Younger from ICDP, and Ian Richardson from 360 Media Group.

AutoFocus displays on the modern difficulties faced by the sector and touches on a wide range of troubles, which includes the lack of out there inventory, the increase of electric cars (EVs) and the ongoing value of dwelling disaster.

Philip Nothard, Perception and Technique Director at Cox Automotive, stated: : “Although we can always find factors to be negative, we know there are eco-friendly shoots of restoration appearing across the market.

“However, there continues to be a amount of complex problems to navigate ahead of we are to see a complete restoration. The production of new automobiles, although improving for some companies, is even now a long way off from wherever it desires to be. Some 31 million less autos had been produced globally in 2020 and 2021 as opposed to the preceding two a long time. In the latest AutoFocus, we go over the impact this is obtaining on forecasts for new car volumes and wherever we go from right here.

“We need to then look at the effects this shortage is having on the utilized current market. Having risen radically in excess of the very last two several years, used auto charges are plateauing and, in some circumstances, declining. All over again, our revised used vehicle forecast explores this in better depth.”

To watch the latest situation of AutoFocus, click on right here.

 



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