The automotive industry is also benefitting from the economic recovery. The private market in particular is doing well. Still, various trends – for instance, electrically-powered vehicles and declining aftersales – are affecting the sales figures. As an entrepreneur in this sector, you need to follow these trends closely and gear your business operations to them.
Help with strategic options
Although more new cars are being purchased, this doesn't mean that you shouldn't worry about the continuity of your business. New travel options, including the rise of shared use cars, are gaining ground, and cars are increasingly being bought online. New initiatives are also cropping up to compensate for the contraction in the repair and maintenance market, and the new way of measuring emissions is leading to higher prices for new cars and higher stock values for them. Clearly, the sector is changing drastically, necessitating well reasoned strategic decisions.
Are there specific problems plaguing your company’s performance ? Your accountant can work with DRV Performance Improvers’ advisors to tackle these problems. DRV Performance Improvers’ advisors can assist with all the potential strategic and management topics to improve your company’s performance significantly and structurally.
DRV Corporate Finance’s specialists can be called in to help with company valuations, business acquisitions and financing arrangements.
Financial issues in the automotive industry
To be distinctive in the market, you must take well reasoned decisions. This is only possible if you have the right management information. With DRV Pro, we make sure that all of the relevant information is incorporated into your recordkeeping quickly, efficiently and correctly. In line with your specific needs, we combine financial and operational data into information on conveniently arranged dashboards. The data is thus transformed into reliable, up to date insights.
Based on your figures, we provide support in making operational and strategic choices. We translate trends into realistic forecasts, furnish insight into the current situation, and link this insight to practical and, above all, useful recommendations. Read more about DRV Pro.
VAT and tax benefits
Do you really understand the tax rules? How should you deal with, say, your stock of goods? And on which items might you be able to save costs? Our tax specialists examine your individual situation and the options for reducing your tax burden.
Are you investing in energy saving technology and the use of sustainable energy in your business? Investments in environmentally friendly and electrically powered cars, for example, fall under these activities. DRV Grant Advice’s advisors can specifically help you to utilize the grant and financing options which the government offers. Would you like to know whether you’re eligible for a grant? Fill in our free DRV Grant Scan to find out!