The supply of new cars could start improving this year, according to management at national car dealer group Pendragon.
They expect the number of new vehicles on the market to start picking up in the coming months, after dealerships were hit by a shortage of vehicles during the pandemic – caused by lockdowns and a shortage of microchips – which left buyers facing long waiting times for new cars and higher second-hand car prices.
It comes as the group put out new figures showing a big drop in profits in 2022, though it added that opportunities in the coming months would more than offset rising inflation.
