Are the vehicles on your lot impacting your sales? Haig Stoddard, Senior Analyst at WardsAuto, talks with CBT News about January 2018 auto sales numbers, what the market is saying about your automotive inventory, and how to avoid any risk.
Haig explains how the year is off to a good start as we remain on track with expectations.
Similar to last year, sales continue to grow and will stay steady for the first part of the quarter. You should expect numbers to taper off come quarters end and into the second. This could be caused by the possible increase in gas cost or interest rates. If numbers are to rise, it will be felt more on the fleet side of the automotive market and minimally impact the consumer. Never the less, this will pivot the buying markets as consumers begin to look for a more gas friendly alternatives.
To stay ahead of the game, Haig suggests steering away from cars and pulling more focus to the sales of alternative vehicles. It will not be long until you see Trucks rise in percentages along with SUV’s. Simultaneously, popularity is gathering around cross utility vehicles as sale numbers continue to rise. CUV’s reached record-setting percentages in the month of January 2018. Their marriage of car space and gas mileage allows them to be a high seller.