Ryan Kerrigan, Managing Director of Kerrigan Advisors, joins Bridget Fitzpatrick on CBT Automotive News to discuss the state of the Kerrigan Index. The pair discussed how the US-China trade war, Tariffs, NAFTA and bad weather all played a hand in weak sales for the month of September.
The Kerrigan Index was down nearly six percent for the month of September caused by a poor month in auto sales. According to the report, all seven stock components were down. Fiat Chrysler Automobiles (FCA) and Subaru were the only to major automakers whose sales did not drop.
Hurricanes had a significant effect in the low numbers. Hurricane Florence, who made landfall on August 31st, caused a major disruption in the southeast. Thousands of dealerships where forced to close for a week or more.
Trade wars and tariffs continue to influence the markets and played a part in decreasing numbers this month. Aided by Presidents Trump’s renegotiating NAFTA, discussion with the EU and negotiating with south career, to name a few, the industry felt the recourse from those variables.
“The Kerrigan Index™ is composed of the seven publicly traded auto retail companies with operations focused on the US market, including CarMax, AutoNation, Penske Automotive Group, Lithia Motors, Group 1 Automotive, Asbury Automotive Group, Sonic Automotive.”
