Motor Trade Economics Chapter 1

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This e-book poses the fundamental question – what impacts on the the traditional automotive retail dealer business model and is it viable for the future. It puts forward the proposition that understanding simple economic and business planning concepts, such as price elasticity, GDP and business planning can help dealers to understand the drivers of demand and how to maintain their own profitability.

Description

This e-book poses the fundamental question – what impacts on the the traditional automotive retail dealer business model and is it viable for the future. It takes the view that progress can be made in answering this question by applying a range of simple economic and business planning concepts. Chapter 1 examines the size of the economic contribution of automotive retailing in the UK in 2007 and the drivers of the UK passenger car market. It reviews the brand winners and losers and the concept of price elasticity in the market. It continues with an assessment of the business planning options for dealers of all sizes. Its conclusion is that a risk assessment or probability approach examining external and internal factors is the most appropriate for dealers in contrast to either a fatalistic, ‘do-no-planning’ at all approach or one that only considers external macro factors.

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