#RefreshFriday End of 2023 Cliff Banks send off! What is coming in 2024?

[Jeff Kershner]

View: https://www.youtube.com/watch?v=FmzYo-ArnBs


We close the year with Cliff Banks’ recap of 2023 and foresight on 2024.

What were the big acquisitions and who might be buying/selling next year?
What makes this marketplace unique for dealers, OEMs, buyers, sellers, investors, etc?
Are EVs on the decline?
Is Tekion a full threat to the DMS market yet?

Will we ever hear the word “recession” on the news?
And more!

Jeff and Alex have so many questions to explore with Cliff as we head into what could be one of the most insane years we will ever know.


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[jon.berna]

Looking forward to watching

 

[Alex Snyder]

One of my favorite shows of the year! Last year, he said the biggest question going into 2023 is how EVs and connected vehicles will be sold.

 

[jon.berna]

The EV sales adoption question has a lot of spin, forces at work and land up for grabs. It's divisive because it's such a shift to the market. I think it's always important to understand the truth verses who benefits from it being different than the truth. The overall driving force impacting dealers is vehicle affordability and every car over 40k gets disproportional hurt more the higher you go up. EVs are not cheap so they are part of the larger issue. EV skeptics will say it's people getting soft on EVs when it's people getting soft on a lack of affordability. Hybrids are the compromise so they are getting some love as they are more affordable.

As incentive turn up next year from the OEMs, government incentives for EVs go down (example: Model 3) the landscape will change again. Rates look to go down steadily so it appears there is a more "normalish" equilibrium on the horizon.