Mention the word “Brexit” and it instantly fills people with fear. At the moment, it’s not hard to see why after the forecasts and inability of multiple governments to clear the confusion. Whether it’s the talk of a new recession or a sharp drop in business confidence in British confidence, the future looks bleak.
However, there is one industry that might be able to ride out the wave. A lot has been said about Brexit and car dealers, yet they seem very adaptable. Continue reading to find out the reasons why.
People’s Lifestyles Won’t Change
There might be some hard times ahead, but that doesn’t mean families will cut back completely. As of now, households around the UK are used to a particular lifestyle, and that won’t change because of Brexit. A new car seems as if it’s an indulgence that you can scrap on a whim; however, it’s linked to other factors. As long as families continue to grow, couples break-up and cars grind to a halt by the side of the road, there will be a high level of demand. Vehicles are necessities for the majority of people, and they’d rather keep their car cut back elsewhere.
The Process Is Convenient
Once upon a time, buyers had to go to a dealership and check out the options on the lot. A lot has happened since then, however. Today, it’s as easy to go online and purchase a car without the hassle of doing it in person. Although Brexit might cause delays to dealerships importing their products into the shop, the same shouldn’t be true of online dealers. Their customers can browse listings online as conveniently as ever before, removing the difficulty from the equation. Even if people have to wait for the speedbumps to be ironed out, it’s not as if they’re wasting their time or energy.
New Won’t Be An Issue
Car sales fell by 20% last year as a result of Brexit. On the face of it, this isn’t a good sign and could see the demise of the industry. But, the likes of Mill House Garage & David Ray Commercials has changing attitudes on its side. The drop in car sales relates to new vehicles, but used and second-hand motors are still performing well. And, after Brexit, they might perform even better. With transparent and trustworthy dealers selling old-yet-nice cars, consumers will get frustrated by new models and opt for used ones instead. Remember that the term can mean a one-year-old vehicle with hardly any miles on the clock.
The Four-Year Itch
A recent trend is the sale of four-year-old cars. Usually, because the mileage is low and the vehicle is in good shape, you can get a reasonable resale price for it. Brexit will only encourage this behaviour as buyers and sellers ensure the market is stable before they make a decision. The result should be another positive for the used and second-hand car markets.
The short-term isn’t going to be healthy for any industry as there will be glitches. But, in the medium to long-term, the car sector should be oka
