Presidential Resort, New Vehicle Prices Keep Going, Inventive Beer Halls

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

As the Virginia Auto Dealers Association annual meeting kicks off in Asheville, NC, we’re talking about who Dealers are focusing on in their efforts to move forward. We also cover continually rising new car pricing, as well as how to get creative with the business you already have.

• New vehicle prices keep going up, buyers keep showing up
  • Avg new car cost (55,821) is approaching the average income in the US
  • COX Automotive Chief Economist, Jonathan Smoke reports that it has never been higher, but isn’t hearing Dealers talk about affordability issues at all
  • Paul Walser former NADA Chair and to Mike Manley of Auto Nation say people are begging for new cars
  • One of the few remaining relief levers is financing terms
  • Smoke says the days of a sub 30k new car are gone
  • Take Away: Managing the balance between new and used businesses to serve all of your customers is vital. Remember when new cars were reported as a loss on your P&L?
• Beer Halls get inventive with morning joe
  • Owners Sarah and Clay Davies say they had always planned on using coffee as an ingredient in Biggerstaff’s beer and some marinades for smoked and braised meats. They also realized they could cater to customers who might come in at 8 a.m. in no mood for an IPA. “If you’re paying rent, why not have something in-house that makes money during the day, not just at night like most brewpubs?” Ms. Davies says.
  • Owners are dealing with rising costs for the products they purchase and the workers they employ. As a result, many have chosen to go outside their original expertise hoping for more business.
  • Owners are finding similar communities in beer and coffee drinking.
  • Take Away: How can you find revenue sources within your current retail space that both curate and craft community?

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Hosts: Paul J Daly and Kyle Mountsier
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