Uncertainty over Trump's tariff policy has rattled markets and dampened consumer confidence.
Every dealer should now recognize the need to have a strong business continuity management plan and make it a strategic priority.
After supply chain disruptions, high inflation and aggressive rate hikes from global central banks, the job market is strong, and the consumer is still spending.
Real estate remains the only constant in this mix of uncertainty, and many dealers are starting to take notice.
The automobile industry is playing an integral part in the economic recovery, which is cutting a broad swath across the country, providing a much needed economic boost as well as bolstering consumer confidence. Once again, U.S. automobile dealers have demonstrated their unique business talent to manage and overcome another daunting obstacle.
Layoffs and furloughs related to the pandemic could lead to legal issues if dealers aren't careful regarding EEOC requirements, especially as they apply to older workers and employees with disabilities.
The coronavirus pandemic and its aftermath are times for dealers and lenders to work together to manage liquidity.