Fixed Ops Magazine - 2020 Vol17 02 - 60

ADM I NI S TR ATI O N
MARCH APRIL 2020 || FIXED OPS MAGAZINE

BUIL DING A C ULT URE O F
BUSINESS D E V E LO P M E N T
BY LAWSON OWEN, CEO OF PROACTIVE DEALER SOLUTIONS

Okay, here it comes. We've noted a slowdown in new car sales for some time. It's
been incremental, but now according to
Automotive News, overall U.S. sales for
April 2019 were 1.33 million, down from
1.36 million in April 2018. That's a drop
of 2.3%. Year to date, sales are down 3%,
from 5.48 million last April to 5.32 million.
The seasonally adjusted annual rate
(SAAR) was forecast at 16.9 million units,
but instead totaled 16.41 million units in
April. That's the lowest SAAR since February 2014, when U.S. Consumers purchased just 15.54 million cars, pickups
and SUVS.
Why? It's several things. The price of new
vehicles has hit $33,310, the highest ever
for the first quarter, and interest rates
have remained high and have trended
upward. I watched a panel on CNBC discussing the J.D. Power-LMC Automotive
report. They noted these concerns, and
added that millennials may be turning to
ride-share and transportation as a service, instead of buying new.
Because of all the above, Edmunds.com
recently reported used vehicle sales in
2019 are poised to hit the highest level
since the recession, according to a new
report from Edmunds. In 2018, 40.2 million used vehicles were sold in the U.S.; in
2019, Edmunds analysts predict used vehicle sales could approach 41 million. Ed-

60

munds experts say rising vehicle prices
and high interest rates are pushing buyers out of the new market.

erences, and high-quality, late-model,
low-mileage used cars are all putting
pressure on new car sales. Look at all the
negative news.

Here are the challenges
High new vehicle prices, relatively high
interest rates, changing consumer pref-

Ahh, but, did you notice one number in
the data I shared? The April SAAR is still
coming in at 16.41 million units. That is al-


http://www.Edmunds.com

Fixed Ops Magazine - 2020 Vol17 02

Table of Contents for the Digital Edition of Fixed Ops Magazine - 2020 Vol17 02

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