A Lloyds report which surveyed 200 companies in August revealed that business confidence is at it’s 2nd lowest level since 2012. And this month, SMMT report demand for new vans down 4.2% with new van sale registrations down by 3.1% YTD.
So what is this telling us? More BREXIT uncertainty and worries about inflation increases affecting sustainability. Or, a more cautious outlook as we head into Q4?
Whatever the reason, times of uncertainty require agility. Less purchasing will mean less used buying and depressed residual values. Add in the forthcoming toxicity charge on older fleet and the cost of ownership becomes more of a lottery.