Dealers are seeing more inventory- meaning their lots are filling back up. In fact, the Matt Bowers Auto Group, based near New Orleans, Louisiana, has had several stores lead their markets in a new volume in May. On today’s Inside Automotive, we’re joined by Matt Bowers, Owner of Matt Bowers Auto Group, to discuss the new volume and other business happening for the group.
Bowers began selling cars, all while in law school. But, due to the opportunity he saw within the industry, he knew the industry was a better fit. Bowers states, “I worked, saw opportunities, and continued to progress.” The way Bowers sees it, if you perform at a high level, and you don’t remove yourself from conversations that don’t bring influence, and if you have the talent and mobility, then the right people will find you. The industry is mixed with trial and error, but if you can spot the opportunity and get into the right conversations, you’re headed in the right direction.
Growing up in the industry, Bowers was made to believe, “The facility should be used as the utility of the operating business.” But as the world continues to evolve, so has branding. In addition, “The revenue over the last few years has substantially grown. Therefore, dealers must have the best avenues to reach their customers,” asserts Bowers. In addition, the whole operation’s standards have risen. Therefore, he claims, “It would be best to make yourself and your dealership accessible through various channels to meet customers where they are.”
As it exists today, inventory is different. It’s different by OEM, market, and by model. Bowers notes, “Some models are readily available and some that customers prefer.” However, “It differs by brand.” The other part of inventory deals with pricing. Inventory fluctuates due to customers being unable to afford their car payments, and dealers can’t afford to keep the vehicles on the lots. But, if dealers represent a brand in a large metro market, they will support sending cars to customers where they live. Ultimately, Bowers asserts, “I am in a position where the OEMs are supplying me with a 60-day supply, but I’m also not seeing where I have too many cars.” For example, Bowers recently built a stand alone Jeep facility in Baton Rouge. It’s a part of an incredible investment in part of it’s reliability for the well-known brand.
Bowers has met with several dealers; some want to promote EVs, while others are hesitant. This holds true from Southeast Louisiana to Metro Nashville and even the Florida Gulf. There isn’t enough demand. Bowers gives the following example: “I think we will be in demand one day, but as of right now, I was driving past a woman and her child on the interstate in Baton Rouge, but I couldn’t run and get them a gas canister to fill their tank; instead, the family had to wait for a tow truck just to get a charge.