The start of a new year is a time of renewed vigor, increased energy and broad optimism. Capitalizing on this, many businesses have carefully reviewed strategy, established tactics, set the budget and are now focused on execution. While specific opportunities vary by company size and industry, the goal is almost always the same – to increase growth and revenue. Although simply stated, the truth is reaching these goals can be quite complex, especially when certain variables are beyond the company’s control. Atlanta auto dealerships will face many challenges in “moving the needle” in 2020. According to the Cox Automotive Dealer Sentiment Index (CADSI), independent dealers have ranked credit availability as a top concern in 2020. In addition, there is concern about the overall weakening market and decline in dealership visits. While not every business will face the same challenge, findings from the report offer management key insights for the coming year. To help clients, prospects, and others, Wilson Lewis has provided a summary of the key findings below.
About the Survey
The data collected was obtained through an online survey with responses from both independent and franchise auto dealerships. The survey was available from October to November 2019, and data is based on responses from 1,073 participants (529 franchised and 481 independent dealers). The sentiment is identified with a numerical value from 1 to 100, with scores less than 50 reflecting weaker (negative) conditions and higher reflecting stronger (positive) conditions.
Key Insights
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The good news for independent dealers is the year-over-year comparison show an increasingly positive sentiment about improving business conditions. While the demand for used vehicles has yet to reach a favorable level there are opportunities to position for the future. If you have questions about the information provided above or need assistance with a tax, audit or accounting issue, Wilson Lewis can help. For additional information call us at 770-476-1004 or click here to contact us.
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