Third-generation family-owned dealerships Coastal Chevrolet Cadillac and Coastal Nissan have been serving their communities in South Carolina for decades. In today’s episode of Inside Automotive, we’re catching up with dealer principal and general manager Brooke English Guy to get an update on business operations and hear her thoughts on EVs.
Key Takeaways
1. After navigating severe inventory shortages during the pandemic, Guy notes that the dealership is now facing the opposite issue—managing a surplus. This requires strategic planning to avoid overstocking and maintain profitability.
2. Guy believes the business remains strong despite market challenges like fluctuating interest rates. She also notes that sales teams are selling over 20 vehicles per month, which requires more staff. This advocates for dealers needing to expand their workforce to meet rising demand.
3. With rising car prices, affordability has become a priority for consumers, particularly for budget-friendly models like the Chevrolet Trax and Nissan Sentra. However, luxury vehicles like the Escalade remain in demand, creating a diverse sales landscape.
4. Electric vehicles present difficulties in Guy’s market, with limited consumer interest and profitability concerns. Although her dealership is the only charging station in the area, it is not seeing significant EV sales and struggles to make EVs a profitable part of its business.
5. Nevertheless, Guy highlights the unpredictability of the used car market, with fluctuating values and tight inventory. She notes the need for a strategy that includes buying more cars while managing challenges in wholesale and market conditions.
"We are in a needs-based business. People need cars to get to and from work. But as much as people need them, buying a car is often emotional and not logical. The excitement of getting something new keeps the industry going despite high interest rates."
