Manheim Consulting sees encouraging economic trends
Manheim Consulting Chief Economist Tom Webb writes a monthly Industry Brief targeting Manheim customers, media and analysts, in which he relates economic
trends to the remarketing business. Many of these trends have a direct impact on the retail Specialty business as well, so we encourage dealers to view a recent article featuring report commentary. The monthly report is available for purchase from Manheim Consulting.
On the whole Webb pointed to numerous signs the economy is strengthening, although not as rapidly as many would like and not without some concerning trends. Highlights of the report include:
- Positive economic signs include increasing total household net worth and retail sales, as well as gradual employment gains
- Negative economic signs include recent declines in consumer mortgage debt occurring in large part due lenders writing off mortgages due to foreclosure and bankruptcy as well as a February decrease in Vehicle Miles of Travel (VMT) versus a year ago
There is no shortage of economic news, but ultimately we want to hear from dealers. What are you seeing and hearing from customers at your dealerships? What changes in customer confidence, ability to receive retail financing and interest in buying vehicles are you experiencing?
Chris Hood is a Senior Marketing Manager at Manheim and has 15 years' experience in auction, sports and event marketing