|No one said this business was going to be an easy win.|
A convention of franchise auto dealers, officially called the NADA Show, will be held in Dallas later this week. This issue gives us the opportunity to talk about the trends and pressures that automotive retailers around the world are currently dealing with.
And then there are those buckets.
A dance is underway between dealers and factories to set the ground rules by which they can agree on how to sell and service electric vehicles. There is the problem of the sluggish rental market. There is some confusion over how tax credits apply to EV purchases.And rising interest rates could push store floorplanning back into cost retailers have to deal with.
This week, we’ll be digging into all that and more.
These are new issues that need to be resolved. And the annual NADA Show is a reminder that the automotive business is committed to the wealth of resources and wisdom of seasoned dealers.
But there’s also a new class of dealers on the show this year.
car newsBy closely tracking dealer sales transactions, we found dozens of first-time dealers that were able to purchase their first stores in 2021 and 2022. New consulting and financing programs have helped many acquisitions. He also details how some buyers were able to make the leap from dealer employee to owner.
It was one of those times when market factors were just right for an aspiring buyer to step in the door. Actually, it’s been 10 years.
But being a newcomer is certainly an interesting moment.
In a separate piece on the current outlook, reporter Lindsay VanHulle highlights what could be the next hurdle. It’s sales training.
VanHulle notes that the vehicle has been easy to sell over the past two years because inventory has been very difficult. And it’s about the changes when the factory comes back to life.
She cites the sober view of Adam Robinson, CEO of recruitment technology company Hireology. “They are trying to find out.”
— Lindsey Chappell