No end for recession
November 2nd, 2009 by Richard Aucock
CAR dealers do not expect the market to resume pre recession levels for at least another 5 years, says research.
Castrol Professional findings mean long-term planning is more important than ever.
‘The general consensus is that the recovery is likely to be a slow, and possibly painful, process,’ said Castrol marketing manager Nigel Head.
The findings showed that 70 percent of car dealers reckon economic recovery remains a year or more down the road.
Two thirds hold the view that things won’t fully recover for another give years.
‘With the vehicle scrappage scheme expected to come to an end in early 2010, dealers need to be confident that they have robust revenue streams in place to enable them to survive in what appears will be a tough post-scrappage market,’ said Head.
‘If they have not done so already, now is the time that dealer principals should be ensuring that key revenue-earning aftersales staff are sufficiently trained and motivated, and have effective processes in place to enable them to capitalise on every profit opportunity.’
Tags: castrol, professional, recession, recovery