Auto Dealers’ Economic Outlook, 2023 Edition
The automotive industry continued to steam roll through 2022 with dealerships making huge profits from gross margins never seen before. In 2021 and 2022 the industry’s overall number of unit sales were down but revenue was up. Total unit sales were down to levels not seen since 2011, but the decline is solely a supply issue, not demand problem. There were more buyers than available vehicles. Will the good times continue in 2023?
HHM’s 2023 edition of the Auto Dealers' Economic Outlook hits on the topics auto dealers should be focused on going deeper into 2023:
- New Units Sold
- Public Dealership Profits
- Backend Operations