The Q2 Cox Automotive Dealer Sentiment Survey came out this week. Dealer sentiment regarding the market is still in negative territory though there was a tiny uptick due to good customer traffic and an increase in the profit index accompanied by a decrease in the cost index compared to Q1.
More interesting, however, was the fall in used vehicle inventory. Used vehicle sales have been a lifeline for many dealerships, and strong inventory growth from off-lease vehicles has helped a lot. The inventory decline “draws into question whether strong used-vehicle sales can continue as inventories tighten,” Cox noted.
This week’s column from Key Private Bank offers some advice that could come in handy if dealers are facing headwinds – or even if they aren’t The Tax Cuts and Jobs Act may have come into effect two years ago, but that doesn’t mean dealers shouldn’t still be looking for ways to benefit from its provisions. Key offers six suggestions; read it to see if you would benefit from one or more!
Hurricane season is approaching, but dealerships in Northern California, Illinois, Mississippi, and other states likely already face the issue of flood-damaged vehicles. Toby Graham of KPA – previously known as Compli — returns to ABSR with an interview with an attorney who offers sound advice on handling flood-damaged vehicles.
And of course we have Transaction News.