Auto Dealers, Less Hurt by Economy, Are Rather Optimistic

Dealers surveyed by Cox Automotive expressed more optimism about the coming three months after surprisingly strong January sales that followed three quarters of declining expectations, according to an Automotive News report.

But while franchised dealers’ sentiment did rebound slightly, according to the first-quarter Cox Automotive Dealer Sentiment Index survey, their outlook for their markets three months in the future is still nowhere near the enthusiasm they carried for most of the last three years as strong demand and inventory constraints fueled a booming business during the coronavirus pandemic.

Still, “they see hope that this year isn’t going to turn out as awful as the mojo seemed to be late last year,” Cox Automotive Chief Economist Jonathan Smoke told Automotive News. “And even if the market is challenged, the rest of the business is likely strong.”

Read the full Automotive News report.

Source: https://rvbusiness.com/auto-dealers-less-hurt-by-economy-are-rather-optimistic/