Today, we’ll be taking a quick look at the January 2016 sales report and what’s ahead this month.
The industry was able to shake off the snow storm that hit the Eastern seaboard, growing retail sales by 4.8% versus this time last year. However, January was a much smaller sales month, in comparison with December.
Three conditions that drove this performance:
- Compact Cars surpassed Compact SUVs to become the #1 segment in January.
- But it’s not all good news for cars as Midsize Cars are still running below Y/Y levels.
- And, as expected, luxury market and pickups fell back seasonally after hitting big in December.
Looking ahead, what do you need to know?
- Industry will grow in February, but typically so do incentive spends
- The snow storms that impacted a few thousand sales are expected to recover in February
- March is typically one of the industry’s best sales months so start building momentum now
To learn more about what your dealership can do to build sales momentum, please visit mypowerdealer.com. Thanks for watching, stay tuned for the next edition of “Power Minute”!