Used car dealers are considered the least trusted major industry in Britain with just 7% of consumers claiming to trust them.
The eye-watering statistic has been revealed in the latest Auto Trader Market Report, which shows that car dealers are ranked lowest for trust – behind banks, estate agents and insurance companies.
Indeed, the finance industry alone is considered 11% more trustworthy than a used car dealer, despite a decade of scandals such as rates rigging and the global financial crisis.
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And although overall trust in UK businesses has been rising recently, trust in the automotive industry has fallen 6% in the last year and 10% since 2014 – “no doubt partly attributable to the emissions crisis of 2015,” says Auto Trader.
However, in more positive news, the trust issue is reversed when those who have bought a used car in the past six months are questioned: just 7% said they did NOT trust the used car dealer they bought their motor from – showing, says Auto Trader operations director Nathan Coe, that it’s an issue of perception rather than reality.
“Despite most consumers having positive experiences at the dealership when purchasing a car, the industry still suffers with a lack of trustworthiness which resonates strongly with consumers.
“Changing these perceptions will be a challenge but the reward could be substantial for the industry.”
It could even, he said, lead to people changing their car more often.