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Dealers say what they want from the Budget
publication date: Mar 18, 2011
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author/source: Robin Roberts
As
this month's Budget looms, HPI, the vehicle information expert, has asked its
used car dealers what they hope the Chancellor will do to support the motor
retail industry.
The findings put the spotlight on the concerns of British traders. Easing the financial burden for the motorist and boosting consumer confidence by freezing fuel duty appealed to a whopping 82% of respondents. This echoes the Society of Motor Manufacturers and Traders' (SMMT) comments, when it called for "positive government action" and a freeze on fuel duty.* 46% of respondents also felt that a freeze on Vehicle Excise Duty was a priority. Many dealers (39%) are also looking for financial support from the government to help stimulate growth, however this doesn't mean a return to the scrappage scheme. Only 26% of dealers thought the scheme should be re-instated, despite its success in 2009/2010. In January, VAT rose to 20% and many dealers feared the worst. 69% of those surveyed confirmed that the VAT rise had damaged their business, of those 29% say it has had a dramatic negative impact. A further 19% said that although their business had not been affected by the VAT change, they do think this will change in the longer term, resulting in a fall in profits (70%) and lack of new car sales (45%). "We are looking forward to seeing what the Chancellor will offer the motor industry in the Budget this month," says Daniel Burgess, Automotive Director at HPI. "It's clear from our survey that dealers want the Government to take steps to boost consumer confidence and make it easier for their business to grow. We support this and hope the Chancellor will make positive moves to support the motor industry." |
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