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Power Minute #7: March was an Interesting Sales Month, But Why?

March is typically a critical month in the auto industry and this one proved to be… interesting. What happened in March that will impact the months ahead?

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Video transcript:

Today, we’ll be taking a quick look at the March 2016 sales report and what’s projected ahead.

March is typically a critical month in the auto industry and this one proved to be… interesting… to say the least.

There were 3 conditions that drove March’s sales performance:

  • Retail sales declined 8.2% to 1.22 million, proving to be the first time retail sales growth was negative since Sep’13, a streak of 30 months
  • Consumer-facing transaction price grew $459/unit, but this rate of growth is slowing
  • And, Small SUV continues to be the top growing segment with growth up 5.5% ahead of last year

Looking ahead, you should know that April has five selling weekends and may see volume that slipped out of March, so get after it.

To discover what you can do differently to improve sales and dealership marketing within your local market, please visit mypowerdealer.com. I’m Kris Rosychuk. Thanks for watching, stay tuned for the next edition of “Power Minute”!

Views: 73

Tags: automotive, dealership, forecast, retail, sales, transaction

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