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Britain Under the Bonnet - Lifting the lid on the UK's motor industry in 2017

5 October 2017

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The automotive industry is unquestionably one of the leading lights of the British economy.

With turnover in 2015 totalling £69.5 billion and the total number employed by the industry nearing 800,000*, its importance to the fabric of our country is indisputable.
But despite having been an undeniable growth industry in recent years – with seemingly endless records set for car registration numbers – it’s difficult to dispute, as we look at what 2017 will bring, that we are entering into uncertain times for our industry.

Introducing Britain Under the Bonnet

At Close Brothers Motor Finance, we partner with over 7,000 dealerships and last year we helped over 88,000 customers finance a vehicle, meaning we have unrivalled access to industry data and insight.
To create Britain Under the Bonnet, we have used a combination of Close Brothers Motor Finance’s own data, attitudinal statistics from consumer omnibus research, and a collection of views from our dealers to give a comprehensive view of the UK’s automotive sphere and how it continues to change, as well as starting to look at what the future may hold.
The report not only gives a snapshot of the industry today, but provides forecasts for where we believe the future lies.
We hope this report gives dealers across the country insight that will help them continue to be successful in the years ahead.

When buying their last car 43% of people went to a dealership to ask for advice

To download the full report, please click here

If you would like to discuss any of the findings further, please contact either your Close Brothers Motor Finance Account Manager or your local branch, which can be found by using our branch locator here 
Source:
*http://www.smmt.co.uk/wp-content/uploads/sites/2/SMMT-Motor-Industry-Fa…

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