New-vehicle sales are softening, inventories are piling up and pricing pressure is increasing. Here’s what automobile dealers can do to make sure profitability isn’t affected.
The pressure is on.
At least, as much as it can be in a new-vehicle market still expected to hover around – if not surpass – the record sales posted in each of the past two years.
Industry forecasts for 2017 run from 17.1 million to 17.6 million, compared with 2016’s 17.5 million. WardsAuto projects light-vehicle volume right in the middle of that range at 17.3 million this year.
But it’s what’s lurking beyond those numbers that has industry insiders and dealers wary of what’s to come in 2017.