It’s that time of year again; a fresh start and new outlook.
There’s something about the start of a new year that always gets us excited about the possibilities for independent dealers. With every new year though, it’s important to pay attention to the past, for it informs the future.
Just as we did at the convention in June 2023, NIADA has prepared its Industry Insights and Analysis update. As we did then, we’ve broken this down into three chapters.
First, we look at the macroeconomic data, which tells us what is happening in the U.S. economy and how consumers feel about what’s happening.
Second, we look at the macro used vehicle data, specifically what is happening in the used vehicle industry.
Finally, we take a more micro view of the used vehicle industry and look at what the data tells us independent dealers are facing.
The report points out for the first time in more than 13 years independent dealers outsold their counterparts at franchise dealers in total used vehicles sold with almost 13 million vehicles.
The full industry report is in the February issue UCD and can be read here.