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The new car market ended up out-performing even the most optimistic of expectations coming in at just under 2.5 million and hitting a 10 year high.
How long this will last is anyone’s guess but it doesn’t seem that long ago that some industry players were saying that 2.5 million units was artificially high.
Sales in the UK are expected to level off after what has been three consecutive years of growth but ultimately what happens here will be dictated by events in continental Europe, where the rate of recovery has been slower and some key economies are now faced with deflation.
This year’s UK market has, of course, already been decided by the major car manufacturers who will continue to pump out right hand drive cars, underwrite them with low interest PCPs and set dealer targets accordingly.
This could make 2015 a tougher year for dealers which is why the forthcoming FCA regulations governing F&I sales need to be addressed head-on to ensure profitability gains remain on track.