The announcement that Honda was to close its Swindon factory was the latest in a series of blows to the automotive industry in recent years.

Other car makers including Nissan and Jaguar Land Rover have announced plans to move part of their manufacturing processes abroad or make significant jobs cuts as they grapple with falling new car sales, Brexit uncertainty and the fallout from the 2015 Volkswagen emissions scandal.

All this amounts to “a perfect storm” that has had a negative impact on confidence in the sector, according to Knight Frank’s head of automotive Adam Chapman.

The car dealership side of the market has not been immune to the challenges facing the industry, but Bill Bexson, managing director of Automotive Property Consultancy (APC), says it has performed solidly.