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Power Minute #3: Auto Retail Sales, Growth in Near Future?


The automotive industry was able endure the snow storm that hit the Eastern seaboard last month, growing retail sales.
  

But, how will such growth impact auto retail sales in the upcoming months?

Watch this video >

Video transcript:

Today, we’ll be taking a quick look at the January 2016 sales report and what’s ahead for the rest of February.

The industry was able to shake off the snow storm that hit the Eastern seaboard, growing retail sales by 4.8% versus this time last year. However, January was a much smaller sales month, in comparison with December.

3 conditions that drove this performance:

  • Compact Cars surpassed Compact SUVs to become #1 segment in January. Compact Cars trailed Compact SUVs by nearly 1.5ppts in 2015!
  • But it’s not all good news for cars as Midsize Cars are still running below Y/Y levels
  • And, as expected, luxury market and pickups fell back seasonally after hitting big in December

Looking ahead, what do you need to know?

  • Industry will grow in February, but typically so does incentive spends
  • The snow storms impacted a few thousand sales, which are expected to be recovered in February
  • March is typically one of the industry’s best sales months so start building dealership marketing momentum now

To learn more about what your dealership can do to build sales momentum, please visit mypowerdealer.com. Thanks for watching, stay tuned for the next edition of “Power Minute”!

 

Views: 182

Tags: January, PowerDealer, automotive, dealerships, performance, retail, retailers, sales

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