One could be forgiven for feeling confused about what actually happened with November new light vehicle sales. Some descriptions of the market from U.S. and U.K. publications: sales “beat expectations,” “down on weak car volume,” “surprise on upside.” The reality is that the market was quite good for automakers with a strong truck (including SUV) lineup. Not so good for manufacturers heavily reliant on cars.
The strong truck segment sales pushed November’s average transaction price up two percent compared to the same month in 2017 to $36,978. And, according to Kelly Blue Book, incentives offset worries about rising interest rates. All in all, not the rout some expected.
This week, Rick White, our cyber guru, is back with cyber crime predictions for 2019. They include continued phishing attacks and, ominously, attacks through the increasingly omnipresent “Internet of Things.” Read it and feel a chill if your dealership isn’t adequately guarding against cyber attack.
Also this week, Key Private Bank returns with a look at the top four estate planning challenges common to auto dealerships. With succession a growing problem, this is definitely worth a read.
And we have, of course, Transaction News.