Here’s a few highlights from panelist sessions at NADA 2013 that impact remarketing trends. Special thanks to Automotive Digest editor Jim Thompson for the recap…
Market:
• U.S. market will be over 15M due to pent up demand, an aging car park and the increased number of vehicle introductions.
• Lenders have learned consumers will pay their auto loan before their home mortgage or credit card balances; leading to relaxed lending rules for car buyers.
• Used car prices will remain above average; sale volume will remain strong despite low inventories.
• Used car sales will be buoyed by three-year old lease returns coming back to the market.
Dealers:
• Dealers are expecting strong sales and profits in 2013.
• The increase is sales volume offers a dilemma: keep overhead low at the expense of sales or return to practices of the past to sell more cars.
• Franchise brand improvement programs went too far; strict adherence to a cookie cutter look cannot be justified.