Turnover in the car dealership business projected to shrink 15% in 2024 (Current Issue No.3466)

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This is because the main income from car sales is projected to contract substantially, especially pickup trucks, followed by petrol passenger cars. The decline in petrol passenger car sales will likely be caused by increased competition from BEVs.
Car dealers, with a relatively small market share, have been severely affected by disappointing car sales. To stay afloat, they may need to bolster their income from maintenance services and shift to BEVs.

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