I have been hearing for the last several months that the market was slowing down. Our store and the majority of our other Rydell stores (which are largely located in the Midwest) have continued to perform well during this period. We had a record July, August, and September volume-wise ourselves. Then October started.... Here in the Midwest, we are usually the last two know, so I'm wondering if the broader markets have started to level off and we're just now feeling the effects, or are your east/west coast stores still struggling?
Status of the Market
- Thread starter BillVaughnAlWestNissan
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- Apr 26, 2021
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- Marcy
Seeing dealerships that we work with across the Southeast starting off slow this month as well... Search volume as well as traffic appears to be levelling off. Could be partly due to the current world uncertainty as not much else has changed significantly from September (ie interest rates, inventory avail, used prices all relatively same)
Thanks for the info. I also wonder whether the stock market and world events are causing temporary restraint.
- Apr 26, 2021
- 30
- 5
- Awards
- 2
- First Name
- Marcy
Very likely. It should be an interesting 4th quarter as there is literally zero historical data on this one - a war, stock market jitters, UAW strike, inventory coming back after 2 years of historical shortages, EV push with tax credits, etc etc. Could be a great November/December (pent up demand) or a very dismal year end. Unfortunately, as I'm sure you know, the last 2 years have set the stage for unrealistic expectations...
OEM incentives have to be on the horizon. If we learn rates have peaked, that will shake some dollars loose too.
This is a monthly report we (Equifax) share with our partners. The data is starting to show increasing pressure on consumers that is resulting in their leaning more on credit cards. Take a look at slide 2 for the summary and slide 5 for spending insights. Affordability continues to become more of a critical issue.
