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I was under the impression that dealers pre-register cars in order to meet new car sales targets and achieve their bonus from the manufacturer.
You'll find a lot more pre-registered cars around when the car market is slow, as it is now.
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Agreed.
The current sales slump seems to be a combination of several factors.
Firstly, car technology is advancing at an unbelievable rate and people are worried that the car they buy today will be rapidly out of date in 2 years time and therefore the residual value will suffer badly.
Secondly, the whole Brexit issue has created such unpredictable times that it's difficult to forecast what will happen to the economy over the next couple of years and how personal finances will be affected.
Thirdly, interest rates; what will they increase to and by how much.
In addition and I'm sure there's more, buying habits are rapidly changing, as has been mentioned before. The traditional outright purchase customer is now in the majority, with most new car sales being part of a PCP or lease arrangement.
I was recently talking to a couple of Directors from 2 blue chip manufacturers and both said there has never been a period of such massive change in the industry. Autonomous cars will be with us very soon and major dealer ship sites that cost millions will quickly disappear or merge with several brands.
Interesting times for sure..
