Our Blog | Recent Posts

19 Aug

How Are You Handling These “Interesting Times?”

Posted on August 19, 2011 by

There’s a quote floating around out there that says:  “May you live in interesting times.” It’s usually characterized as a curse, meaning that the most desirable state of things is to drift along without any dramatic turn of events. Status quo, without any surprises.

It’s safe to say that we’re all living in interesting times right now.

For the automotive industry in particular, the restatements of 2011 and 2012 auto sales estimates and drops in consumer confidence this week, coupled with the out-and-out acts of God that disrupted the supply chain out of Japan earlier in March, make it one of the most “interesting” years on record.

But there are some glimmers of hope.

Banks are still lending more freely, and interest rates are still at historic lows. What this means for consumers is that now they have the opportunity to shop around for the best rates to get into a car.

And even though they’re starting to slow, used car prices are up 30% this year, so there’s a huge opportunity out there for auto dealers to increase their inventory turnover and margins — if they can connect with the right buyers.

Use these unusual market conditions to reassess how you’re managing your lot. How are you making the best of these circumstances? Is there something you could be doing differently to bring more prospects to your store? How can you expand your reach? What does your inventory mix look like?

These are questions you should be asking on a regular basis anyway — but now you have even more reason to.

About Amy Taggart

Amy Taggart is the Marketing Manager for Interactive Financial Marketing Group. When she's not eating, sleeping and breathing the Carloan.com Dealer Network, she's checking out live music, watching DVDs, or keeping an eye on Man U. and the San Jose Sharks. Follow her on Twitter at @abtaggart to get the latest news. View all posts by Amy Taggart → This entry was posted in Auto Industry and tagged , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>