2019 Outlook
John Stephens
Executive Vice President
“We’re on track for a flat year in 2019. This pattern is expected to stay in place until sometime next year, when most economists expect a slight downturn. Dealers should be in preparation mode for reduced vehicle sales.”
Brien Joyce
Vice President
“Those lenders who originally pulled out of subprime at the end of last year and first part of this year, are re-evaluating the space. However, they are finding that in order to compete they must slash rates, even while the Fed increases rates.”
Glenice Wilder
Vice President
“Those powersports dealers who have diversified their inventory to include more off-road vehicles and side-by-sides, have experienced an increase in sales. This is largely due to the fact that Millennials now represent the largest working demographic in the U.S.”
Adam Ouart
Vice President
“While agents need to be helping dealers prepare for reduced vehicle sales, it’s important to remember that this flat sales year is still at record highs when compared to historical unit sales. We’ve reached the peak of just how far sales can climb.”
Gary Biskup
Vice President
“While pre-owned values remain strong, independent dealers need to take this time to diversify revenue streams, and find other ways outside of unit sales to increase customer retention.”
