Franchised dealerships’ views of the current market tumbled from a score of 62 in the third quarter to 52 for the fourth quarter. Independents also registered quarter-over-quarter declines in current market sentiment, and the industry as a whole rated conditions a 43, the second consecutive quarter with a negative view.
Smoke told Automotive News dealerships never expected the future market to be worse than the current market in any Cox survey from 2017 to the COVID-19 pandemic. Since then, it has happened several times. He said he feels it highlights dealership uncertainty.
“The uncertainty is principally around things that are completely out of their control, with no relief in sight,” he said. This is particularly the case for factors like the economy or interest rates, he added.
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