Steve Finlay, Editor of WardsAuto joins Jim Fitzpatrick in a great discussion about the current effect import tariffs and technology are having on the retail auto industry. Both seen to disrupt the industry in many ways, although the latter has already made an impact.
Steve believes we have yet to feel the effects of any tariffs but that does not mean they are not coming. “Once the tariffs go into full effect, there will be price differentiation and there could also be an opportunity for domestic automakers to push their price up as well”, says Finlay. Currently, the AIADA and NADA are putting forth all resources to fight imposed tariffs on imported cars, therefore, according to Finlay, the future of imported tariffs within the automotive industry is still unknown.
As we wait to see if Trump’s tariffs are more then just a negotiation ploy, technology continues to disrupt the industry in what is believed to be good and long awaited.
Steve recently spoke with a general manager of a dealership group who informed him that they have ditched paper and moved over to a fully electronic system. More and more you will see dealerships improve their process and that starts with streamlining their efforts, programs, technologies, and systems.