Ian Simpson, sales and marketing director, The Warranty Group:

“Used car customer confidence has not improved significantly since the recession and, if you consider the current levels of unemployment and public sector spending cuts, may even arguably deteriorate during 2011. While there is some limited help for people on lower and middle incomes in the Budget, there is nothing here that is likely to lead to increased numbers of people feeling confident about buying a used car, especially bearing in mind the Chancellor’s downgraded growth forecast. In this climate, warranty, service plan and asset protection products will continue to see increased levels of popularity as dealers and manufacturers seek to overcome any lack of confidence on the part of the buyer by ensuring that they have credible ‘safety net’ products in place. It is all about providing the customer with a complete package that provides the peace of mind needed to make a purchase.”

More articles on: