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Consumer confidence drives up enquiries in April

British consumers were their most upbeat in more than a year this April, despite the surging cost of living, as they took a more positive view of their finances and the health of the wider economy, said market research firm GfK.
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03/05/2023

RISING consumer confidence during April was reflected in an 8% rise in enquiries for new and used vehicles received by dealers across the UK, as against the same month last year.

According to experts at iTrackLEADS, the figures bode well for sales figures later in the year, and enquiries are converted into sales and vehicle deliveries.

British consumers were their most upbeat in more than a year this April, despite the surging cost of living, as they took a more positive view of their finances and the health of the wider economy, said market research firm GfK.

While consumers’ expectations for Britain’s economy in the next 12 months hit a 15-month high, and they saw the prospects for their personal finances as the brightest since February 2022.

The strong April result for enquiries followed an increase of 13% in March. However, test drives fell by 4%, and overall sales fell by 1%.

Commenting on the trend, Adrian Favill, director of iTrackLEADS, said: “It’s great to see consumer confidence start to return to the market despite continued headwinds in the economy. Dealers have become adept and converting enquiries into sales and managing customers through supply chain delays.”

Manufacturing delays and shortages of used stock continued to be an issue, with a 19% fall in vehicle handovers.

iTrackLEADS is part of Mad Devs, a technology company that supports over 800 dealers across the UK.

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Picture of Chris Wright

Chris Wright

Chris Wright has been covering the automotive industry nationally and internationally for 30 years. Following spells with consumer titles he became News Editor of Automotive Management (AM), Editor of Automotive International, International Editor for Detroit-based Automotive News, and Editor of Dealer Update. He has also co-authored several FT Management Reports and contributes regularly to Justauto.com

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