In the uncertain, post-Brexit economy with an estimated 5.5%* drop in car sales for 2017, forecasting will help you understand how consumer confidence is driving purchase intent. It predicts average monthly UK new vehicle registrations (i.e. sales) based on changes in consumer confidence towards spending.
2016 has shown that the economic forecasters and pundits aren’t always correct, and that the unexpected is increasingly becoming the norm. However, through using consumer confidence as a base line, you can be confident that our forecasts have a basis in what consumers are actually thinking and doing. As a sales or marketing manager armed with accurate information, you can direct your budget spend and marketing activities more efficiently to build on or counteract market trends.
In a nutshell, the GfK auto forecasting tool:
The GfK auto forecasting tool is an intricate model built on the correlation of new vehicle registrations (SMMT) and consumer confidence data (GfK). Both data sets are updated each month to provide you with the most up-to-date market development.
To see the sales forecast for Q1 2017 and how it compares to Q1 2016, download our free sample.
*GfK auto forecasting tool aggregated 2017 figures compared to SMMT 2016 total vehicle registration