Up to half of UK car dealerships will close within by 2025 according to respondents to KPMG’s Global Automotive Executive Survey 2018.
A bleak future was mapped out by the survey’s 907 respondents, who occupy position of chief executive, president, chairman or C-level executive, as 75% said that between 20% to 50% of the brick-and-mortar automotive retail sector could disappear in just seven years.
Many felt that the shift to online would spark a dramatic shift in the make-up of the car retail sector in the coming years, with the evoltution of the vehicle ownership model and data security concerns also among consumers key concerns.
Justin Benson, UK Head of Automotive at KPMG, said: “In the UK, our findings are clear on one thing, there are more significant disruptors to the automotive sector than Brexit.
“Electric vehicles, autonomous vehicles and Mobility as a Service (MaaS) are going to drive change in the automotive sector for the foreseeable future.
“New business structures and new economic models are on the horizon, driven by these disruptors and the associated new technology.