October Newsletter

Fall has arrived and October typically brings us ghouls, goblins, and ghosts. This year our industry is dealing with more tricks and treats than normal…

A few of the “Tricks” dealers are facing:

• Inventory continues to be a challenge for most manufacturers. Although this has somewhat steadied, dealers are still wanting more inventory for their lots.
• The potential of new FTC rules going into effect will change the way vehicles are presented and sold. Much is happening with this and we recommend you stay tuned to the National and State associations for further guidance.
  • https://www.nada.org/nada/nada-headlines/six-senators-sign-letter-ftc-seeking-answers-proposed-auto-rule
• Manufacturers are announcing price increases for their EV lineups as well as dealer-mandated expenses to add superchargers, etc.
  • https://www.caranddriver.com/news/a40771105/2023-ford-gm-truck-price-increase/
• Federal and State governments continue to push EV adoption while certain states are requesting not charging EV’s during parts of the day.
  • https://www.nytimes.com/2022/09/01/us/california-heat-wave-flex-alert-ac-ev-charging.html

There are still a few “Treats” to be found:

• Dealers for the most part are still experiencing record, or near-record profits on the vehicles they are selling.
• The American consumer is proving resilient despite key metrics signaling reason for concern.
  • https://www2.deloitte.com/us/en/insights/economy/consumer-pulse/state-of-the-us-consumer.html
• Fixed Ops continue to be a bright spot in most dealerships, with many stores and dealer groups posting record results.
• The NADA Mid-Year analysis shows a healthy and vibrant dealer body that continues to feed a significant portion of our overall economy.

Additionally, ADS has a few “Treats” for our dealers to take advantage of:

• We are hosting an AFIP Certification Course October 4^th and 5^th in Strongsville, OH. Be sure to check out the information below and register early to secure your seat.
• This year, ADS is a proud sponsor of Live2Lead in conjunction with one of our favorite charities, Changing Lives Foundation. This is a tremendous opportunity to take leadership lessons from some of the most recognizable names in leadership, coaching, and mentoring. Be sure to check out the information below and reach out to your ADS representative to secure either heavily discounted, or free admission.

Here’s to another great month for everyone!

View the full newsletter https://mailchi.mp/advdealer.com/october-newsletter.