2017 started well for the automotive sector, despite ongoing Brexit uncertainty which surprisingly seemed to have little impact on consumer demand. And despite the media’s best efforts to hail doom and gloom upon us, following reports of a slight dip in production last year compared to 2016, it is probably still too early to call “peak car”. There were more than 2.5 million new car registrations in 2017 and the value of leases for both new and used cars continued to rise last year. As we enter 2018, however, pressures are starting to build.
Our automotive team have combined research from 2017 with our own insights from many years’ work in the sector to discuss some of the key current industry issues. This year’s Outlook hones in on the FCA’s view of the sector, continues to analyse the levels of transaction activity for retailers, and sheds some light on the impending impact of GDPR for both manufacturers and retailers alike.
Our ‘Expert perspectives’ piece summarises the opinions and insights from our panel of experts on their views on the likely year ahead. The panel comprised David Kendrick and Paul Daly, as UHY’s leading Automotive experts, along with Mike Allen, head of research at Zeus Capital, Robert Forrester, CEO of Vertu Motors plc and Mike Hawes Chief Executive at the SMMT. The panel give their views on making a success of merged businesses, resale values, the transition to electric and hybrid vehicles and the manufacturer base in a post-Brexit world.