According to the latest statistics from the Society of Motor Manufacturers and Traders (SMMT) vehicle manufacturing rates jumped by 4.9% in November. Furthermore, the UK’s leading motor trade industry association reported a 9.2% rise when compared with last year’s figures.
SMMT Chief Executive Paul Everitt explains, “UK car manufacturing has gone from strength to strength in 2012, growing almost 10% for the year and 5% in November.” Yet despite the positive industry growth Everitt maintains that manufacturers must not drop the ball. “This is good news, but there can be no room for complacency; the development of a long-term industrial strategy and consistent support by government is essential to secure future success and more opportunities for the UK-based supply chain.”
Adding to the accomplishment is the fact that the UK was the only one of Europe’s major car markets to report expansion in 2014. Previous market research revealed that car manufacturers in Greece were hit by a colossal 47% slump, Italy reported 20% losses and France figures were down 11%.
The figures support further statistics that 2014 clocked up the highest number of new car registrations since 2008. When combined, the rise in car manufacturing and the growth in new vehicle registrations point to a successful year for the British car manufacturing market.
For British motor trade businesses the flourishing market also represents some fantastic opportunities for 2015. With an increasing number of vehicles being manufactured and a rise in the number of registered vehicles business is set to boom. So how can motor traders handle the new custom set to roll in? Here are our three of our top tips:
When it comes to smooth sailing organisation is the key to success. If you haven’t already, purchase yourself a calendar, an appointment diary and a ‘to do’ list board that the whole team can refer to. This will ensure that you can keep on top of each and every one of your new customers.
Think about taking on a new staff member
It can be tempting to put off hiring a new staff member however putting time, effort and cash into recruitment can pay off big time. When businesses become too busy standards begin to slip. Make sure your motor trade business continues to excel by hiring new staff members as soon as you start to feel overwhelmed.
Take out a motor trade insurance policy
Plain and simple, an increase in custom goes hand in hand with increased workplace risks. Protect your business, your employees and your clients by taking out a comprehensive motor trade insurance policy.