By Mike Britton, Barclays Partner Finance
Following the spectacular growth in dealer finance we saw in 2012, many of us wondered whether 2013 could see us repeat the same performance – or would the bubble burst?
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Looking at January’s sales data on both new and used vehicles, we see a healthy growth trend of month-on-month and year-on-year. It’s very encouraging. But there is a ‘however’ coming.
Take a look at what’s happening on our high streets. Recent casualties include Blockbuster, HMV, Jessops, Comet, JJB Sports, Peacocks and Past Times, and unfortunately there will be more. It’s a stark reminder to us all to make sure our business model and
customer value propositions remain relevant and able to anticipate change.
On both sides of the pond the equity markets are at or near record highs, but, as I’ve noted before, how much of this is sentiment-based and underpinned by the extraordinary sums of new money being created by the central banks, only time will tell.
Europe is a worry of course – motor sales in the big three of France, Germany and Italy were all well down in January and this must mean that manufacturers need to switch product focus to other markets to move the metal. Of course we in the UK will be a prime target.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataWe truly do now live in a global village. China will shortly confirm their new ten-year leadership, headed by communist party chief Xi Jinping. Continuing to tackle corruption and improving corporate governance while at the same time maintaining 8% annual growth in GDP will be the fine balancing act needed. China’s ability to grow and export its product and import our luxury goods and services will in large part underwrite the health of the world’s developed economies.
The Chinese have a proverb, "may you live in interesting times" – well, I think that’s guaranteed for a while!
Mike Britton is a Sales Director at Barclays Partner Finance
