It’s monthly sales numbers time again. Joe chats with Haig Stoddard a Sr. Industry Analyst with Ward’s Auto to get an update on the financial health of the retail automotive industry, what’s trending and how that could impact your lot. Joe asked Haig the following questions, tune in to find out his answers:
1. Give us your perspective of how March’s numbers played out.
2. Incentive spending across the industry rose 13% from a year earlier, a jump of about $415 per vehicle, according to researcher ALG. When dealerships hear that figure, what are they supposed to think?
3. Gas is still cheap, consumer confidence is good (according to the Fed Chair), people who want to purchase a house are being told now is the best time (before interest rates rise) and not everyone has spent their tax refund yet. Aren’t these positives for dealers?