2017 looks like it’s going to be a busy year for car dealerships in the UK. Car sales rose for the fifth consecutive year in 2016 and the best-selling car manufacturer was Ford.
Here is a list of the top 5 car manufacturers in 2016, according to the Society of Motor Manufacturers and Traders (SMMT):
1. Ford (318,316 new cars registered)
2. Vauxhall (250,955 new cars registered)
3. Volkswagen (207,028 new cars registered)
4. BMW (182,593 new cars registered)
5. Audi (177,304 new cars registered)
On announcing the results, SMMT chief executive Mike Hawes told Car Dealer Magazine: “Despite 2016’s political and economic uncertainties, the UK’s new car market delivered another record performance as car makers offered an incredible range of innovative and high tech models.
2017 may well be more challenging as sterling depreciation raises the price of imported goods but, with interest rates still at historic lows and a range of new models arriving in 2017, there are still many reasons for consumers to consider a new car in 2017.
“Looking longer term, the strength of this market will rest on our ability to maintain our current trading relations and, in particular, avoid tariff barriers which could add significantly to the cost of a new car.”
Do you have car dealership insurance?
Whether you’re a dealer for Ford, Vauxhall or one of the other car manufacturers, you need to make sure you have the right level of insurance or you could be making a costly mistake. It doesn’t matter if you sell cars part-time or full-time, you need the right kind of insurance or you’ll be breaking the law.
If you’re a sole trader buying and selling cars from your home you’ll need a minimum Third Party Only Road Risk policy, if you own a dealership, then you’ll need Combined Motor Trade Insurance so that all of your cars, offices, tools, machinery, fixtures and fittings are covered. Your policy will also need to provide Employers' and Public Liability cover.
Car dealership insurance can be complicated so you’re best speaking to experts who can tailor the right policy to your requirements. Why not give our experienced car dealership insurance team a call on 01625 562389 to discuss your business’s needs and get a quote today? They’ll be happy to help.
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